Manitowoc’s representative in the State Assembly says a tax bill Republicans passed in the Assembly will be good for seniors.
Assemblyman Paul Tittl says the bill allows for people 67 or older to not be taxed on retirement accounts like a 401K or a 403B.
He says it was a very simple vote and the state’s budget surplus needs to go back to the citizens.
“Some people believe that once the money goes to Madison it should stay in Madison. I don’t believe that,” he said while on the WCUB Breakfast Club Monday morning. “I believe it’s the people’s money, and we should not be operating like a profitable business. We should be operating like a non-profit more so, and try to collect the same amount as we are spending.”
He says the bill will be sent to the Senate where it will most likely pass, but Tittl says he expects Governor Tony Evers to veto the bill.
The bill would also decrease the individual income tax rate in the third tax bracket from 5.3% to 4.4% during the 2023 tax year.
