Scott Walker Signs $500 Million Tax Cut Bill

Scott Walker / AP

Wisconsin Governor Scott Walker (R.) signed legislation on Monday that will cut taxes by $504 million over the next two years.

The bill reduces both income and property tax rates in Wisconsin, according to Americans for Tax Reform.

SB 1 represents the third significant piece of tax relief enacted by the Walker administration, bringing the total amount of tax cuts to $2 billion. Workers, families and homeowners will now have more money in their pockets thanks to the efforts of Gov. Walker and the Republican majorities in the legislature.

"I want to congratulate Governor Walker for designing, promoting, and now signing Senate Bill 1 into law," said Grover Norquist, president of Americans for Tax Reform.

"Scott Walker inherited a state budget that falsely promised to spend more than Wisconsin citizens could afford.  He avoided the ‘easy' and traditional path of yet again raising taxes and slashing budgets across the board.  Instead he reduced taxes to create more jobs and opportunities and therefore more tax revenue while reducing  spending by reforming government to perform better at lower costs: specifically Act 10.  Reducing the tax burden and reforming government to cost less is the path forward for Wisconsin and the nation."