Wednesday, April 26, 2006

Dems Bringing Back HOPE

To counter the stream of TABOR-family amendments spewing out of the GOP caucus lately, the Dems will bring the HOPE legislation back to the floor of the Assembly tomorrow.

While HOPE was initially proposed by Democrats nearly a year ago, the Republican legislative leaders haven't allowed it out of committee.

Essentially HOPE is a property tax cut. It allows the first $60,000 of a home's property value to be exempted from school property taxes, which makes it an even tax cut across the board for all homeowners by shaving about $600 per year off their property tax bill.

To compensate for the lost revenue, the HOPE bill would close loopholes that allow businesses to avoid paying Wisconsin taxes by doing such things as establishing out-of-state subsidiaries.

HOPE also wouldn't decrease local control or harm public services. It's a straight-up tax cut for every homeowner in Wisconsin.

A release by Rep. Spencer Black (D-Madison) on the return of HOPE can be found here.

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