Many Wisconsin low-income families miss out on their full tax refund because they do not claim tax credits for which they are eligible —particularly the Earned Income Tax Credit, the Homestead Tax Credit, and the federal child tax credit. Please help us get these flyers, which explain the eligibility for these credits, into the hands of low-income families who could benefit. English Version
Negotiators in Congress announced this afternoon that they have reached a tentative agreement on the parameters of a budget compromise that would make modest reductions in the sequester cuts for fiscal years 2014 and 2015. The reductions in some of the across-the-board cuts will be more than offset by other cuts, such as reduced funding for federal retirement benefits, as well as increases in some fees, such as airline ticket fees, thereby slowing growth in the federal deficit.
Minnesota releases updated revenue and spending projections in early December of each year, and the new figures released today are very positive – a net gain in the Minnesota budget balance of about $1 billion. Let’s hope that Wisconsin can come close to matching that when our new tax and spending estimates are released in late January or February.
Today is Cyber Monday, the first day back in the office after Thanksgiving – and one of the biggest days of the year for online shopping. One thing that will be different this shopping season is that for the first time, Amazon will be collecting sales tax on purchases made by Wisconsin residents. Amazon’s move is expected to increase state revenue by $30 million in the first year.
Thousands of out-of-work Wisconsinites who have been searching for a job for a long time will lose their unemployment benefits at the end of the year, unless Congress acts to renew federal unemployment benefits. According to a new analysis from the Wisconsin Budget Project, 65,500 jobless workers in Wisconsin will lose access to federal benefits over the next six months, as shown in the chart below.
November was Native American Heritage Month, but for most of the month all we have heard about was the mascot issue and casinos. The national stories about the “code-talkers” during World War II were a welcome exception to the dearth of positive stories about American Indians during the first half of the month, though those stories drew attention to just a very brief glimpse of Indian history and contributions.
Yesterday’s competition between the Green Bay Packers and the Minnesota Vikings ended in a rare tie game. That game is finished, but there is another competition that is still going on between Wisconsin and Minnesota, one that involves job creation and economic growth, rather than touchdowns and field goals.