MADISON, Wis. — The two-year state budget poised to pass the Republican-controlled Senate early Friday morning will head to Gov. Scott Walker who has the power to make significant changes through his line-item veto. The Senate did not make any changes to the plan before its final vote was delayed Thursday by Democrats until shortly after midnight on Friday.
Here are some highlights of what's in the two-year, $70 billion budget:
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INCOME TAX CUT
Income taxes would be cut by about $650 million over the next two years, rates in all brackets would be cut, and the number of brackets would shrink from five to four. The average tax cut for all filers in 2014 would be $152, but more than half of the tax cut benefit would go to those earning over $100,000 a year.
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SCHOOL VOUCHERS
The private school voucher program, currently offered only in Racine and Milwaukee, would extend statewide. Vouchers allow public school students to attend private and religious schools using a taxpayer-funded subsidy.