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State Senate Approves Walker Bill To Exempt Businesses That Move To WI

Wednesday, January 26th, 2011 at 7:10 am

The Wisconsin state Senate has approved a tax break for businesses that relocate to Wisconsin.

The break would essentially forgive state corporate and personal income taxes on companies that relocate to Wisconsin from elsewhere for two years. Only companies that haven’t been in Wisconsin for the past two years could qualify.

Democrats said the bill passed Tuesday was so small it was insignificant. The break is projected to cost $1 million over two years.

Republican Senate Majority Leader Scott Fitzgerald says the tax break is part of a larger Walker strategy to improve the economy and fix the budget.

It passed 24-9 with five Democrats joining 19 Republicans in support.

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