Gov. Scott Walker's proposed budget would reduce tax credits for the poor — effectively taking money out of their pockets — while decreasing taxes overall, according to a nonpartisan report released Friday.

Low and middle income people would lose tax credits worth about $49.4 million over two years, the new Legislative Fiscal Bureau report said.

Those affected most by Walker's proposal would include low-income families who qualify for the earned income tax credit program, and low-income homeowners who receive tax rebates under the homestead tax credit.

Walker repeatedly promised during his campaign for governor not to raise taxes.

Democratic lawmakers now accuse the new Republican governor of breaking his word, and making corporations a priority at the expense of poor families.

"Budgets really are about choices and priorities," said state Rep. Donna Seidel, D-Wausau. "And while we hear Gov. Walker talk about shared sacrifice, what we see is that he is attempting to balance the budget on the backs of working class families and the most vulnerable, while continuing to give tax breaks to the wealthiest corporations."