- Associated Press - Tuesday, January 23, 2018

MADISON, Wis. (AP) - A new memo from the Legislature’s fiscal analysts shows tax breaks targeted at manufacturers and farmers cost the state more than $260 million in revenue during the last fiscal year.

Assembly Minority Leader Gordon Hintz released the Legislative Fiscal Bureau’s memo to the media on Tuesday. The bureau found the manufacturing and agriculture tax credit cost the state $262.1 million in the year that ended June 30. The credit is expected to cost the state $275.5 million in fiscal year 2017-18 and $294.8 million in 2018-19.

The analysis shows 10,379 people claimed the credit in 2017, including 15 who make at least $30 million. Their average credit was $1.8 million.

Democrats have long criticized the tax credit as being too expensive at a time when budgets for schools, roads and higher education are strapped.

But its supporters say the tax credit helps attract companies to locate and expand in Wisconsin.

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide