Carpenter, McGuire Introduce Bill to Ease Tax Burden on UI Benefits
Proposal would exempt the first $10,200 in benefits from taxation
(MADISON) – State Senator Tim Carpenter and State Representative Tip McGuire today introduced legislation to exempt the first $10,200 of unemployment benefits (“UI”) received in 2020 and 2021 from state taxation. Federal law already provides the same for 2020.
“As our state recovers from the pandemic, it is critical that we provide assistance to the working families who were hit the hardest by the economic effects of COVID-19,” said Rep. Tip McGuire, “This bill puts money in the pockets of the Wisconsinites who need it most right now.”
“We have all heard from constituents this past year or more about the difficulties they have faced, from being unemployed for the first time, to the troubles they have had in getting their unemployment benefits, and then the idea of taxing those benefits, that’s not fair,” said Carpenter. “We owe it to people who have been hit hard during this time to not add an additional burden in the form of taxation on their UI benefits.”
NOTE: This press release was submitted to Urban Milwaukee and was not written by an Urban Milwaukee writer. It has not been verified for its accuracy or completeness.
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