Wednesday, April 15, 2010
Contact: Chris Lato
NEUMANN DESIGNS 'BUDGET BLUEPRINT FOR WISCONSIN'
First Neumann budget will begin to implement tax cuts Blueprint calls for state spending caps tied to inflation
WAUKESHA, Wis. - April 15, 2010 - As taxpayers across Wisconsin race to complete their returns in time for today's filing deadline, candidate for Governor Mark Neumann issued a 'Budget Blueprint for Wisconsin' that includes the start of sweeping tax reductions in his first budget proposal.
"This is a painful time of year for folks across Wisconsin who work hard to make ends meet, and on average spend more than a quarter of their weekday just working toward paying their tax bill," Neumann noted. "As Governor, I will demand a return to fiscal responsibility that ensures our budgets are balanced without gimmicks, and will immediately allow folks to start keeping more of their money."
The Budget Blueprint for Wisconsin calls for state government spending slowdown to one percent less than the inflation rate or less, which is conservatively estimated at three percent. This incremental reduction in real dollar spending will ultimately alter the look of taxes and spending in Wisconsin.
By limiting spending increases to two percent or less, and experiencing revenue growth of five percent - a combination of three percent inflation and two percent real growth in the economy - the difference will be used for tax reduction.
As part of the Budget Blueprint for Wisconsin, the state would realize a 24 percent cut in taxes over eight years.
Neumann noted that when he served in Congress in the 1990s, he aggressively promoted a similar solution at the federal level. The result: a balanced budget for the first time in a generation, repayment of debt, the largest tax cut in history, and the creation of millions of jobs.
"This is a plan that is proven to work," Neumann noted. "It's time for political shell games to stop. No more tax hikes, accounting tricks, excessive borrowing, and raids of segregated funds.
"The only way we can provide more job opportunities across Wisconsin and create the best economic climate in the nation is by reducing wasteful spending, balancing our books while ensuring government meets the needs of the people, and cutting taxes across the board," Neumann added.
View the graphs that lay out Mark Neumann's Budget Blueprint for Wisconsin:
Download the Press Release (PDF) 2120 Pewaukee Road, Suite 150 ~ Waukesha, WI 53188 ~ (262) 349-9498 Paid for by Mark Neumann for Governor, Matt Neumann, Treasurer