With the state facing a $650 million budget deficit, it is clear the state needs to end the $300 million estate tax loophole for the rich which just went into effect in January.
One Wisconsin Now launched a petition drive calling on the state legislature to stop this giveaway to the heirs and heiress of Wisconsin’s largest fortunes instead of making drastic cuts to aid for seniors, the disabled, the poor and our children.
Finally, we saw some sanity on this issue Thursday as according to Wispolitics, ‘[Senate Majority Leader Russ] Decker’¦said he favors reinstating the estate tax if it will help to rein in the projected deficit.’
This isn’t the first time the Schofield Democrat has advocated for progressive taxation. Decker also wants to close the ‘Las Vegas Loophole,’ which currently allows corporations to evade its Wisconsin tax obligation by setting up a post office box in a state like Nevada, which doesn’t have an income tax.
You still have the chance to demand your state legislators do the right thing on the estate tax. Click here and sign the OWN petition today.