Blog Posts by Jon Peacock

House Bill’s Increase in Child Tax Credit Excludes Many Children in Working Families

November 14, 2017

Congressional leaders misleadingly argue that their tax cut plan would benefit working families because it increases the maximum value of the federal Child Tax Credit (CTC). However, that part of the House bill completely excludes 159,000 children in Wisconsin whose … Read more

The Top Ten Most Surprising Changes in the House Tax Plan

November 8, 2017

As I’ve been gradually working my way through an 80-page summary of the tax cut plan that was introduced by House leaders last week, I’ve found a number of things that strike me as surprising. Based on what I’ve read … Read more

Republican Tax Plan Remains a Huge Windfall for the Wealthy

November 2, 2017

The tax cut plan unveiled today by House Republicans would provide a massive windfall to corporations and the wealthiest Americans, while hurting some taxpayers and substantially increasing the federal deficit.

We don’t yet have updated calculations of how the revised … Read more

Wisconsin’s Lagging Income Growth Boosts Federal Share of Medicaid Costs

October 4, 2017

A state’s lagging economic performance can have a silver lining – in the form of increased federal assistance. Thanks to a Medicaid formula that currently provides more generous cost-sharing to states that are below average in per capita income, Wisconsin’s … Read more

New ACA Repeal Plan Expected to Cost Wisconsin $29 Billion by 2036

September 22, 2017
The new proposal to repeal the Affordable Care Act (ACA) is estimated to reduce federal health care funding for Wisconsin by $29 billion from 2020 through 2036. That’s the conclusion of an analysis released on September 21 by Avalere Health. The Avalere analysis helps illustrate why the new ACA repeal and replace plan, like the ones before it, would result in at least 20 million fewer Americans with health insurance by 2021. And under this plan offered by Senators Graham and Cassidy, the rapid drop in insurance coverage could reach 32 million in 2027, according to a report issued today by the Brookings Institute. The new proposal would make insurance far less affordable for many who now use the subsidized ACA marketplace and would force states to make deep cuts in Medicaid services for children, seniors and people with disabilities.

Budget Bill Boosts Property Taxes for Thousands of Low-income Households

September 14, 2017
Despite the claims of state lawmakers that the biennial budget bill cuts property taxes, the actions of those policymakers will increase property taxes for thousands of low-income Wisconsin households. The budget bill does that by significantly reducing funding for the Homestead Tax Credit, which was designed to provide targeted property tax relief to low-income homeowners and renters. A new Wisconsin Budget Project summary of tax changes in the budget bill describes some of the major items, which include more than $400 million of tax cuts. But the bill cuts funding and eligibility for the Homestead Credit, and the Joint Finance Committee (JFC) rejected the Governor’s proposal to increase the state’s Earned Income Tax Credit.

New Census Data Show Continued Gains from the ACA

September 12, 2017

Insurance Coverage Also Improves in Wisconsin, but More Slowly than in Medicaid Expansion States

The number of Wisconsinites who do not have health insurance fell sharply during the first three years of implementation of the Affordable Care Act (ACA), according … Read more

Speaker Ryan Would Exacerbate a Problem that He Says Is a Concern

August 31, 2017
Several important public benefit programs provide strong incentives to work, but you wouldn’t know that when you listen to Speaker Paul Ryan talk about those programs. He has been using half-truths to create a very distorted impression of public benefits, as he seeks to advance an agenda that would further shift federal tax and budget policy in favor of the very wealthy, at the expense of low-income households.

The Significant Risk of Never Breaking Even on Foxconn Subsidies

August 16, 2017

When the Legislative Fiscal Bureau wrote last week that it would take until at least 2043 for Wisconsin to break even on the Foxconn subsidies, they were summarizing a Department of Administration analysis that used the “best case” assumptions. … Read more

Foxconn Deal Keeps Looking Worse

August 9, 2017

The massive subsides for Foxconn proposed by the Governor keep looking worse as we learn more. The most recent sobering information came this week when the Legislative Fiscal Bureau (LFB) issued a new analysis of the proposed subsidies. The figures … Read more