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ation adjustment to social security payments since 1981 under the homestead credit household income increases as social security payments increase to the extent household income increases above the income threshold of 8 060 claimants receive lower credit amounts or are disqualified altogether so it s not a bad idea to expand the homestead credit to get back some of what has been lost you know who else thought it was a good idea to expand the homestead credit tony evers who has asked to expand the homestead credit in every budget he has submitted to the gop legislature including this proposal from last year increase the income level at which the homestead tax credit begins to phase out income threshold to 19 000 increase the income level above which no credit is allowed maximum income level to 37 500 and reduce the rate at which the credit phases out phase out rate to 7 891 specify that this provision would first apply beginning in tax year 2025 the maximum allowable property taxes or rent constituting property taxes would remain at 1 460 as under current law the following formula factors of the credit would be indexed for inflation annually beginning in tax year 2026 a the income threshold b the maximum income level and c the maximum allowable property taxes or rent constituting property taxes the indexing adjustment would be calculated in each year based on the percentage change in the u s consumer price index for all urban consumers u s city average cpi u as determined by the u s department of labor usdol the percentage would be calculated as the change between the cpi u for the month of august of the previous year and the cpi u for august 2024 the adjustment could not occur unless the percentage is a positive number dor would be required to annually adjust the phase out rate 7 891 in tax year 2025 to reflect the indexed formula factors statutory modifications would be made to clarify the current law provisions under which a claimant cannot claim the credit if the claimant did not have earned income during the calendar year unless the claimant or the claimant s spouse was disabled or was over the age of 61 the administration estimates that state gpr expenditures would increase by 71 600 000 in 2025 26 76 200 000 in 2026 27 and 83 200 000 in 2027 28 for the visually inclined here s what would have happened to the homestead credit under the aleckson and evers proposals compared to what we are stuck with today so why are we still at these lower income levels that make so many wisconsinites ineligible provision not included removed from budget consideration pursuant to joint finance motion 4 and who is one of the co chairs joint finance and made that decision to throw out evers expanson of the homestead credit it s jon aleckson s own state senator and fellow republican howard marklein seems like you might wanna talk to the guy on the right and ask why he caused this bad situation jon maybe when you re campaigning together at the green county fair or something the second part of aleckson s plans to help seniors with property taxes has some constitutional changes that i think are worthy of getting into freeze the assessed value of a primary residence for any wisconsin homeowner age 70 or older who has lived in their home for at least five years place a net worth ceiling of 200 000 on participating seniors provide that the frozen assessed value remains in place for as long as the senior lives in their home as their primary residence require passage by two consecutive wisconsin legislatures and approval by voters statewide ensuring the protection is democratically ratified and constitutionally durable this sounds good on the surface right seniors don t end up paying higher property taxes due to higher assessments on homes they already own and i ll credit aleckson for admitting that you d have to create a new constitutional amendment to give a tax break based entirely on age since is why the current homestead credit doesn t have an explicit age target even though seniors are a main constituency that is intended to be helped by it however that s got a problem let me remind you that property taxes for wisconsin communities are limited to a total amount levied rising property assessments only affect your tax bill in relation to how much the other assessments in your taxing area go up the lfb put out a chart last summer which shows the property tax rates wisconsinites pay have continued to go down even as total taxes paid have gone up what would happen with a freeze on property assessments for seniors is that all other homeowners in a community would end up paying more if those homeowners saw their assessments go up that s because the non senior property owners would make up a larger percentage of the community s tax base there s a flip side problem where property taxes could still go up even as property values go down as they did in the late 2000s the amount of taxes that could be levied could still be allowed to stay level or go up if the community so chooses and that s regardless of what happens with the values underneath that would be an increase in rates which raises taxes even if property assessments have not changed i d also add that lower property taxes up front from the lower assessments could reduce the expanded homestead credit but for homeowners that would be only if someone paid less than 2 336 in property taxes and that s well below the median wisconsin tax bill of 3 466 for this upcoming year per the lfb so i wouldn t be too concerned for that part and it s probably better to get the relief in december s tax bill vs waiting for tax refunds 2 4 months later to aleckson s credit he says that the higher burdens and property taxes that others may have to pay could require more legislation he says the lfb should be asked to look at the cost to local governments and find a way for the state to make up the difference so schools and towns don t take a hit what s funny is that schools and towns wouldn t be limited in raising taxes to come up with the revenue the mix of who pays is the big difference with this proposed relief to seniors which again means that the best way around this problem of rising property taxes is to remove the republicans who have blocked additional state aid to schools and other communities that governor evers and other democrats have asked for this is why we have been in this cycle of increased property taxes to make up the difference and or referenda requiring these communities to go over their tax limits because costs of business kept going up well above what scott walker and his fellow wisgops in the legislature allowed these communities to pay for so i appreciate the effort and i think dems should join with republican jon aleckson in continuing the requests of governor evers and ask for an expanded homestead credit to help low income and or senior wisconsinites afford their property taxes and maybe also ask for a constitutional change to allow for seniors to be property taxed in a different way but an even better idea would be to put democrats in charge of the legislature for the first time in 16 years and make corporations and richer sconnies pay more after a decade and a half of tax cuts then you can use the increased state resources to pay for more of the costs of local government and stop the cycle of increased property taxes and referenda that are causing a strain for a lot of us that s the real problem here and republicans have failed miserably in dealing with it in the age of fitzwalkerstan and if jon aleckson became the 50th republican in the assembly to allow them to keep control you can bet he won t be able to put his ideas of expanded homestead credits into law that might get in the way of helping oligarchs and mediocre businessmen get even more tax breaks and that s not something gops are going to trade off posted by jake formerly of the lp at 6 47 00 pm no comments email this blogthis share to x share to facebook share to pinterest thursday june 11 2026 inflation watch shows prices up more in may and they re likely to get higher we knew that gasoline prices kept rising throughout may and it led to a lot of anticipation of this week s release of overall inflation data from the bureau of labor statistics this first shoe dropped on tuesday the consumer price index a broad gauge of goods and services costs across the u s economy rose at a seasonally adjusted 0 5 for the month putting the annual inflation rate at 4 2 the bureau of labor statistics reported wednesday both numbers were in line with the dow jones consensus though the monthly number was 0 1 percentage point below the april reading inflation climbed above 4 for the first time in three years though the increase met expectations amid concerns over how much the surge in energy prices would impact the economy the level was the highest since april 2023 and above the 3 8 reading from april however stripping out volatile food and energy prices the so called core cpi accelerated 0 2 for the month and 2 9 from a year ago while the annual rate was in line with the forecast the monthly gain was below the 0 3 estimate and less than the 0 4 april increase americans are getting squeezed financially by inflation that s back at a 3 year high said heather long chief economist at navy federal credit union the frustration for many americans is that so many of the basics are up in price right now gas food electricity and medical care are all clear pain points that are above 3 inflation ending the war in iran will help to moderate inflation but the worst is likely still to come for rising food prices a significant difference between now and april 2023 is that consumer inflation was on the way down 3 years ago instead of on the way up like it is today and in the shorter term it looks worse since the end of 2022 prices have gone up more than 2 over 6 months exactly once in february 2023 and then we started dropping bombs in the middle east in february 2026 then combine the 0 5 increase of cpi with a smaller percentage increase in wages and it means american workers fell further behind in may real average hourly earnings for all employees decreased 0 1 percent from april to may seasonally adjusted the u s bureau of labor statistics reported today this result stems from an increase of 0 3 percent in average hourly earnings combined with an increase of 0 5 percent in the consumer price index for all urban consumers cpi u real average weekly earnings decreased 0 2 percent over the month due to the change in real average hourly earnings combined with no change in the average workweek in fact average hourly wages are no higher than they were when trump came back into office over a year ago once you adjust for inflation trump s war has wiped out an entire year and a half of wage growth image or embed ben zipperer benzipperer org june 10 2026 at 7 41 am and line workers are falling back even more than americans in general real average hourly earnings for production and nonsupervisory employees decreased 0 3 percent from april to may seasonally adjusted this result stems from a 0 2 percent increase in average hourly earnings combined with an increase of 0 6 percent in the consumer price index for urban wage earners and clerical workers cpi w real average weekly earnings decreased 0 3 percent over the month due to the change in real average hourly earnings combined with no change in the average workweek but gas prices have fallen by around 10 over the last month so maybe this rise in inflation is just a temporary thing that s certainly what trump gop is trying to sell to a public that so far isn t buying it which is why what came out today may be even worse news for trump gop wholesale prices rose more than expected in may indicating that pipeline inflationary pressures are percolating higher the bureau of labor statistics reported thursday the producer price index a measure of final demand costs increased a seasonally adjusted 1 1 on the month putting the 12 month wholesale inflation rate at 6 5 economists surveyed by dow jones had been looking for a monthly move of 0 7 the annual headline inflation rate was the highest since november 2022 the monthly gain matched the april increase taking out food energy and trade services the ppi accelerated 0 8 the biggest one month move since march 2022 on a 12 month basis the core excluding trade services rose 5 1 the most since october 2022 so that means costs of products are going up for businesses even more than they have been for consumers those firms sure as hell aren t going to eat it and cut their profits by not pushing their cost increases to consumers costs were rising even more up the line and closer to the source material as shown through the intermediate ppi figures for example stage 4 foods were up 2 8 in may alone and stage 3 foods were up 4 6 in stage 4 this includes a 10 2 increase in grains and for stage 3 it includes a 5 4 increase in slaughter cattle and a 9 0 increase in raw milk that last item might be good news if you re a dairy farmer but it also means higher prices when those products get to the grocery stores in the next couple of months intermediate services are also costing more as truck transportation of freight jumped by 3 4 in may and is up 17 3 in the last 12 months and airline passenger services went up another 2 5 and has risen 14 4 in the last year and in stage 3 there were sizable may increases in wholesaling costs for metals minerals and ores 7 4 chemicals and allied products 6 0 and food 3 4 so tough times for businesses as they try to get things out for sale to the public and if you think that june s slight retracement at the pump is going to drop the elevated prices that are all over the us economy well you might be as dumb as donald trump in the middle of rambling about how he loves the inflation the higher ppi also tells me that the gap between wage growth and price growth will likely get larger in the coming months not what you want if you re trump gop and you want lower interest rates and happier workers as november approaches so no matter what kind of relief rally you see on wall street when trump tries to bs about what ll happen in iran know that in the real america inflation watch is going to be a thing in the us for the rest of 2026 and likely beyond much of the price increase is already baked in no matter what desperate measures and speculations come posted by jake formerly of the lp at 4 45 00 pm no comments email this blogthis share to x share to facebook share to pinterest wednesday june 10 2026 may jobs report shows good if uneven gains wall street hated it been a busy last week but i wanted to give a note on the recent jobs report for may which turned out to be surprisingly strong in the face of rising prices the us labor market appears to have found its footing the economy added 172 000 jobs in may shattering expectations new data from the bureau of labor sta...