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Opinion

WISN 12 Editorial: Sales tax vote

Increased sales taxes in place could prevent a significant financial crisis, including bankruptcy.

Opinion
WISN 12 Editorial: Sales tax vote

Increased sales taxes in place could prevent a significant financial crisis, including bankruptcy.

GOOD NIGHT. THIS IS A WUSA 12 EDITORIAL WITH PRESIDENT AND GENERAL MANAGER JAN WADE. GOVERNOR TONY EVERS RECENTLY SIGNED A SHARED REVENUE BILL THAT BOOSTS FUNDING FOR LOCAL GOVERNMENTS ALL ACROSS WISCONSIN. PART OF THE DEAL ALSO EMPOWERS MILWAUKEE CITY AND COUNTY TO PUT NEW OR INCREASED SALES TAXES IN PLACE THAT WOULD PREVENT A SIGNIFICANT FINANCIAL CRISIS, INCLUDING BANKRUPTCY. THE NEW LAW ALLOWS THE CITY TO LEVY A 2% SALES TAX, WHILE THE COUNTY CAN ADD A 0.4% INCREASE. BUT EACH MUST BE APPROVED BY TWO THIRDS VOTES OF THE CITY’S COMMON COUNCIL OR THE COUNTY BOARD OF SUPERVISORS. THANKFULLY, THE COMMON COUNCIL JUST APPROVED THE 2% SALES TAX CRITICAL TO PRESERVING AND PROTECTING ESSENTIAL CITY SERVICES. LEADERS WARNED THAT FAILURE TO APPROVE WOULD LEAD TO MASSIVE CUTS, WHICH HURT MILWAUKEE’S MOST VULNERABLE COMMUNITIES. THE MOST, ALL TO MAKE UP A $183 BILLION BUDGET GAP CAUSED BY THE CITY’S UNFUNDED PENSIONS. ALTHOUGH THERE WAS MAJOR PUSHBACK ON THE MILWAUKEE SPECIFIC RESTRICTIONS OF THE AGREEMENT, THOSE ARE NOW LAW ANYWAY. REGARDLESS OF THE TAX CODE ITSELF. SO WHAT ARE THE NEXT STEPS? THE NEW CITY SALES TAX BEGINS JANUARY 1ST AND IS EXPECTED TO GENERATE ABOUT $193 MILLION. THE COUNTY TAX VOTE SHOULD HAPPEN LATER THIS MONTH. IF PASSED, IT WOULD GENERATE ANOTHER $75 MILLION ASSUMING BOTH PASS THE SALES TAX AND THE CITY OF MILWAUKEE BECOMES 7.9% AND 5.9% IN THE REST OF THE COUNTY. AT THE END OF THE DAY, THE DEAL IS FAR FROM PERFECT AND SOME RESIDENTS AREN’T HAPPY. BUT THE CITY OF MILWAUKEE NOW HAS A FIRM PATH TOWARD FINANCIAL STABILITY. BASIC CITY SERVICES ARE FUNDED AND CITY LEADERS DID WHAT THEY COULD WITH THE HAND THEY WERE DEALT. BUT WHILE IMPERFECT, IT CERTAINLY BEATS THE ALTERNATIVE. WHETHER YOU LIKE IT OR NOT. I’M JA
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Opinion
WISN 12 Editorial: Sales tax vote

Increased sales taxes in place could prevent a significant financial crisis, including bankruptcy.

Governor Tony Evers recently signed a shared revenue bill that boosts funding for local governments all across Wisconsin. Part of the deal also empowers Milwaukee City and county to put new or increased sales taxes in place that would prevent a significant financial crisis, including bankruptcy.

Governor Tony Evers recently signed a shared revenue bill that boosts funding for local governments all across Wisconsin. Part of the deal also empowers Milwaukee City and county to put new or increased sales taxes in place that would prevent a significant financial crisis, including bankruptcy.

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