Cutting Taxes

Reducing the tax burden on families and businesses has always been at the top of Mark Green’s priority list. While in the State Assembly, Mark helped lead the fight to pass the largest tax cut in Wisconsin history. While in Congress, Mark worked with President Bush to pass the largest tax cut in American history. As Governor, Mark Green will continue to work to reverse the rising tide of taxpayers’ money being drawn to Madison. Mark Green has fought for – and won – real tax relief for our families.

Individual Tax Rate Reduction – Mark Green helped pass significant reductions in federal tax rates to 10%, 15%, 25%, 31% and 35%. Prior to passage of this tax relief, the tax rates were 15%, 28%, 31%, 36% and 39.6%. This reduction provided across-the-board tax cuts for every American taxpayer. (H.R. 1836, signed by President Bush on 06/07/2001)

Child Tax Credit Increase – Mark Green led the charge for a dramatic increase in the rate of the child tax credit. This provision provided greater tax relief for families with young children. (H.R. 1836, signed by President Bush on 6/7/2001)

Marriage Tax Penalty Relief – Mark Green championed broad marriage tax penalty relief legislation that doubled the standard deduction for couples to that of singles and increased the income range for joint returns to receive the earned income tax credit. (H.R. 1836, signed by President Bush on 6/7/2001)

Repealing the Double Taxation on Social Security Benefits – Mark Green fought to repeal the 1993 Clinton tax on Social Security Benefits. The Clinton increase raised to 85% (from 50%) the amount of Social Security income that could be subject to taxation. (H.R. 4865, passed the House, 265-159)

Estate Tax Repeal – Mark Green worked to phase out the “death tax” through 2010 to keep it from further harming our farmers and small businesses. (H.R. 1836, signed by President Bush on 6/7/2001)

IRA and Pension Tax Cuts – Mark Green supported tax cuts for Roth and traditional IRAs. For pensions, the legislation increased the contribution and benefit limits. This legislation was designed to strengthen pensions and retirement accounts for those planning for the future. (H.R. 1836, Signed by President Bush on 6/7/2001)

Internet Tax Prohibition – Mark Green cosponsored legislation to prohibit new taxes on Internet access. Unfortunately, Jim Doyle insists on defying this law – making Wisconsin one of only a handful of states that still has a toll booth on the information highway. (H.R. 49, signed by President Bush on 12/3/2004)

Education Savings Incentive Tax Reforms – Mark Green helped pass an increase, from $500 to $2,000, to the annual limit on contributions to education IRAs. (H.R. 1836, signed by President Bush on 6/7/2001)

Dividend and Capital Gains Tax Rates Reduced – Mark Green strongly supported legislation to reduce dividend and capital gains tax rates. This allows investors to keep more of their hard-earned money and promoted investment in economic growth. (H.R. 2, signed by President Bush on 5/28/2003)

Tax Rebate Provided – Mark Green voted to provide a tax rebate for individuals who did not receive previous tax credit checks in 2001. This was part of a broad plan to recharge the economy after the terrorist attacks of September 11th. (H.R. 3090, signed by President Bush on 3/9/2002)

Child Care Tax Credit Provided – Mark Green voted to provide a 25% tax credit for employer-provided child care. This is a significant tax benefit for many companies as well as their employees who might otherwise not have an opportunity for full employment. (H.R. 1836, signed by President Bush on 6/7/2001)

Combat Pay Tax Break – Mark Green strongly supported legislation to qualify combat pay as income for the refundable child tax credit and earned income tax credit, on behalf of our troops serving in the war on terror. (H.R. 1308, signed by President Bush on 10/4/2004)

Research and Experimentation Tax Credit Extended – Mark Green voted to extend the Research and Experimentation Tax Credit. This provision provides an incentive for businesses to increase their investments in research and experimentation for their products and services and encourages economic development. (H.R. 1308, signed by President Bush on 10/4/2004)

Alternative Minimum Tax Reduced – Mark Green strongly supported legislation that provided a reduction of the Alternative Minimum Tax for individuals. This would allow for taxpayers to keep more of their hard-earned money. (H.R. 1836, signed by President Bush on 6/7/2001)

Bonus Depreciation Tax Break – Mark Green voted to provide bonus depreciation allowances for businesses. This provides significant tax savings for companies purchasing new equipment, machinery, land and buildings. Businesses receiving this tax savings are expected to invest more into their company through increasing the workforce, developing new products, and other economic development. (H.R. 3090, signed by President Bush on 3/9/2002)

Welfare to Work Tax Credit Extension – Mark Green voted to extend the Work Opportunity Tax Credit that encourages businesses to hire job seekers by reducing the employers’ federal income tax liability. This tax credit extension was intended to increase economic development and encourage businesses to add to their workforce. (H.R. 3090, signed by President Bush on 3/9/2002)

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