Wisconsin corporations would get nearly half of federal tax cut.

MADISON – In 2019, large corporations and other businesses in Wisconsin would receive 46 cents out of every dollar delivered into the state by the federal GOP tax cut bill, according to a new analysis.

The permanent tax cuts for corporations and other companies in Wisconsin would amount to just under $2.5 billion in 2019, or a bit less than the $2.8 billion delivered to individuals and families in the state, the left-leaning Institute on Taxation and Economic Policy found. The legislation is expected to see votes in the House and Senate early this week and head to President Donald Trump’s desk.

But because the bill’s tax cuts for in- dividuals are set to expire in 2025, the tax cuts for corporations would easily outweigh them by 2027.

In that year, individual taxpayers would pay $384 million more while

large corporations in Wisconsin would still see a tax cut of just under $1 billion.

Supporters of the proposal say it would boost economic growth and jobs by making American businesses more competitive globally. They say that the tax cuts for individuals could be renewed in the future, just as the tax cuts passed by President George W. Bush were renewed for all but the very richest taxpayers.

House Speaker Paul Ryan (R-Wis.) said the bill would put small businesses “in a better position to compete locally.”

U.S. Sen. Tammy Baldwin (D-Wis.) tweeted that the bill is unfair.

“It’s simply wrong to give huge tax breaks to the top 1% and corporations & put health care for millions on the chopping block to pay for it. Keep speaking out!” Baldwin posted.

An analysis by the right-leaning Tax Foundation of a version of the tax bill found that it would lead to the creation of 18,700 jobs in Wisconsin and add $2,632 to the after-tax income of the median income family in Wisconsin.

Under the bill, the great majority of Wisconsin residents — about 88% — would see a tax cut in 2019, according to ITEP.

In that year, taxpayers making up to $70,040 a year — a group representing the bottom 60% of taxpayers in Wisconsin — would see an average tax cut of $460, up slightly from an earlier version of the bill.

But without action from Congress, in 2027 this same group would see on average a tax increase of $190, according to the ITEP analysis. The ITEP board includes academics and the staff of leftleaning groups such as the Center on Budget and Policy Priorities.

The wealthiest taxpayers — who also pay the most in taxes — would get the biggest share of the overall tax cut and would still pay less in taxes even in 2027, according to the institute.

“This bill is going to substantially increase the growing divide between the rich and the rest of Americans,” said Ken Taylor, executive director of the liberalleaning Wisconsin group Kids Forward.

The bill would deliver $1.4 billion in tax cuts to large corporations in Wisconsin in 2019 and $1 billion in 2027, ITEP found.

U.S. Sen. Ron Johnson (R-Wis.) fought to ensure that the bill also cut taxes for a separate group of firms known as pass-throughs that have a limited number of owners who pay taxes on company profits through the individual income tax.