Need-to-know updates on issues that matter to your small business
With a budget address and State of the State Address already behind them, Gov. Scott Walker and Wisconsin’s Legislature are now immersed in the 2015-2016 session.
Here are four small business updates to know from the current floor period, according to NFIB/Wisconsin State Director Bill G. Smith.
1. State of the State and Budget Addresses
Gov. Walker addressed a Joint Session of the Legislature declaring the state is strong with continued growth in private sector jobs, lower than national average unemployment rate, and taxpayer savings of over $2 billion as a result of budget reforms and less spending. Then, on Feb. 3, Gov. Walker announced his budget proposal during an address to a Joint Session of the Legislature (you can watch the address below).
2. Minimum Wage
Senate Bill 2, recently introduced by Senator Robert Wirch (Kenosha), and cosponsored by Representative Cory Mason (Racine), increases the state minimum wage to $10.10 per hour from the current rate of $7.25. The bill was referred to the Committee on Labor and Government Reform.
3. Eliminating Personal Property Tax/Increasing Retailers Discount
NFIB/Wisconsin has signed a letter sent to the Legislature by the Conference of Retail Associations (CORA) calling for repeal of the personal property tax, and an increase in the retailers discount which compensates retailers for the cost of collecting and remitting the sales tax.
4. Repeal Prevailing Wage
Representative Rob Hutton (Brookfield) will soon introduce Legislation that would eliminate the state prevailing wage law. As he announced his proposal, Representation Hutton said, “With tight budgets, the elimination of prevailing wage will provide local governments with a critical tool to reduce costs associated with capital budgets.”
NFIB’s State Director Bill G. Smith applauded the call for repeal. “At a time when the Legislature will need to maximize every tax dollar they collect, we are pleased Representative Hutton is introducing legislation that will save tax dollars, and end a practice that shuts out small contractors from participating in the bidding process for state and local projects.”
Question: Which legislative issue this session matters most to your small business? Tell us in the comments section below.