THE NEST ACT

The NEST Act — No-tax Earnings for Shelter and Tenancy

The Wisconsin Housing Account (WHA)

Buying a home is the single biggest financial milestone in most people's lives — and right now, the government taxes every dollar you try to save toward it. Reive's Wisconsin Housing Account changes that.

Wisconsinites can open a state-designated Wisconsin Housing Account (WHA) and contribute pre-tax dollars from their paycheck — money that would otherwise go to the state in income taxes. Those dollars sit in the account, growing for one purpose: housing and the cost of living.

What the money can be used for:

• A down payment on a new primary residence

• Monthly mortgage or rent payments

• Monthly utility bills

What happens if you withdraw for anything else? You simply pay the income tax that was never collected in the first place. No penalty — just the tax you would have paid anyway. The state gets what it was always owed, and you made a choice with your own money.

The built-in government accountability: The more expensive housing and utilities become, the more money flows into these tax-exempt accounts — and the less income tax revenue the state collects. For the first time, Wisconsin's government has a direct financial incentive to keep housing costs and utility rates from spiraling out of control. When the cost of living goes up, Madison feels it too.

No subsidies. No handouts. No new spending. Just letting Wisconsinites keep more of their own money to build a stable life — and holding government accountable for the cost of that life.