(WFRV) - Northeast Wisconsin lawmakers are bringing a proposed bill back to Madison in an attempt to eliminate retirement income tax for most Wisconsin seniors. "Today we are introducing the 2025 Tax-Free Retirement Act," said State Rep. David Steffen, R-Howard. "They spend their lifetime developing an estate, hoping and planning that it’ll last the rest of their life. And when massive inflationary environments hit, they’re the ones who are the most hurt." VP Kamala Harris to campaign in Fox Valley, 5th Wisconsin visit of Presidential campaign The bill would exempt $75,000 of retirement income for single filers and $125,000 for married or joint filers from state income tax. A similar bill, exempting $150,000 for married or joint filers, passed the state legislature in February with bipartisan support. That proposal failed after three drafts were vetoed by Gov. Tony Evers on March 1. Evers did not return a request for comment for this story. "All three of them had some bipartisan support, but we could not get it across the goal line, so that’s why we are starting now," Steffen said. "Today we made sure the governor was briefed on this proposal, and we welcome his support." Both proposals have been spearheaded by State Rep. David Steffen, R-Howard, State Rep. Joel Kitchens, R-Sturgeon Bay, and State Sen. Rachael Cabral-Guevara, R-Fox Crossing. Steffen says Evers vetoed the bill because only about 1% of retirees would be taxed. He hopes that by lowering the taxable threshold from $150,000 to $125,000, Evers will agree to sign the bill, as about 10% of retirees would be taxed, according to Steffen. In March, Evers said the proposal would "set Wisconsin on a path toward insolvency, leaving the state unable to meet its basic duties to provide adequate funding for programs and services provided by the state, including education, healthcare, child care, public safety, and aid to local governments." Steffen says the state has a $3 billion surplus that is not needed, but in March, Evers defended holding onto the extra dollars. "If enacted, together, the three bills would reduce revenues by such a margin that it would likely force the state, even with ordinary revenue growth, to partially or fully drain the Budget Stabilization Fund—also known as the state’s ‘rainy day’ fund—just to provide bare minimum inflationary adjustments to key programs in the 2025-27 biennium," Evers said. One of Evers' top concerns about reducing taxes is that it would cause budget cuts to key programs across the state. "[Tax cuts] should be responsible and sustainable, ensuring we can keep taxes low now and into the future without causing devastating cuts to priorities like public schools and public safety down the road," he said. But Steffen claims any lost revenue from taxes can be made up by seniors spending more in the state, and this time he is hopeful Evers will support the threshold decrease to $125,000. If the bill is signed into law, Wisconsin would become the 14th state to enact legislation on tax-free retirement income. "Retirees spend a lot of money in our state," Steffen said. "Tax-free retirement is an incredible attraction for our workforce. We are in dire need of highly skilled individuals at all phases of employment." Kitchens says Wisconsin is in a fight to attract more retirees as other states move toward tax-free retirement income. Iowa is the latest state to make this shift, and Illinois already has. "We're in competition with other states, and these people definitely make their decisions on where they want to live based on their income tax," Kitchens said. "And I hear so many stories in Door County about people who choose to live six months out of the year in other tax-free states." Until the bill is passed, Cabral-Guevara says that her constituents who are retired in Wisconsin will view the state as punishing them for remaining in-state. Who is the wealthiest person in Wisconsin? New Forbes 400 list released Until the bill is passed, Cabral-Guevara says her constituents who are retired in Wisconsin will view the state as punishing them for staying in-state. The legislators hope Evers signs the bill before the end of the year so that it can take effect for the 2025 tax season.