Walker’s Latest $1.5 Billion Promise: End Corporate Income Tax

MADISON, Wis. — Milwaukee County Executive Scott Walker has promised the Metropolitan Milwaukee Association of Commerce (MMAC) to completely end the state’s corporate income tax – a massive new $1.5 billion tax break which would require even more drastic cuts to education, health care, police and fire protection. Walker answered he would “repeal the corporate income tax” on the just-released MMAC gubernatorial candidate questionnaire.

Walker’s promise to end the corporate income tax made on the MMAC questionnaire can be viewed at: http://www.mmac.org/clientuploads/PDFs/2010SurveyWalker2.pdf

“Scott Walker is promising another $1.5 billion massive corporate tax break for big business that will require massive cuts to education, health care, police and fire fighters,” said Scot Ross, One Wisconsin Now Executive Director. “This newest promise brings Scott Walker’s tax break, loophole and shift total for big business and the rich to over $5 billion.”

Walker made his promise after MMAC has made nearly $400,000 in political contributions to the Republican Governors Association, which has spent $3 million in attack ads to support Walker’s campaign.

Walker’s call for an end to all corporate income taxes is the latest in a series of tax promises by Walker, such as ending the “Las Vegas Loophole” and cutting income taxes solely for those making more than $225,000 a year, an impossible feat, considering the state’s $2.7 billion deficit. A complete list of Walker’s previously-promised $3.8 tax breaks and loopholes and the cost of each is available at: http://www.onewisconsinnow.org/files/Walker%20Tax%20Cut%20Promises%2020101001.pdf

In addition, Walker promised in the MMAC questionnaire to reduce oversight of business practices and reduce accountability measures that protect the public from harm caused by unscrupulous business practices.

“Scott Walker has no way to pay for over $5 billion in tax breaks for big business and the rich and close a near-$3 billion deficit,” said Ross. “Walker is either lying or he intends to drastically slash education, health care, police and fire protection. He has no other way if he intends to keep these irresponsible promises.”