A trio of Wisconsin Republican lawmakers are planning to pitch a tax-free retirement plan that would exempt seventy-five thousand dollars of retirement income for single filers and up to one-hundred-twenty-five thousand dollars for married joint filers. The legislature passed a similar bill during the last session, but Governor Evers ultimately vetoed it. Legislators have noted that Wisconsin’s current retirement taxes have caused seniors to flee to other states with tax-free retirement laws.
As State Senator Rachel Cabral-Guevara said, quote, “Punishing [retirees] for staying near their family in Wisconsin…isn’t the way to treat our seniors,” end quote. Families, especially children, are enriched by the bond they share with their grandparents. Our state laws should encourage that bond by making Wisconsin the best choice for our retirees.
