Tax, regulatory, and licensing reform are key legislative agenda items for employers.
What Can Wisconsin Small Businesses Expect in 2017?
Wisconsin Assembly Republicans
recently released their Forward Agenda, an outline of goals for the
2017-2018 legislative session. Here’s a look at a few of the top issues that
these lawmakers will be working toward with a 64-35 majority in the state Assembly.
Tax Reform
“Our fractured tax code puts
small businesses at a disadvantage, as they must hire tax and legal
professionals to navigate all of the rules and regulations,” the Forward Agenda
said. “Assembly Republicans will continue our efforts to eliminate loopholes
and targeted tax breaks in favor of broader based tax relief.”
One idea is to form a task force
to examine state and local tax structures and come up with ways to make the tax
code fairer, flatter, and lower. Creating IRA charitable rollovers and a sales
tax holiday, as well as eliminating the victory tax on Olympic athletes, are
other options.
Regulatory Reform
“Most new jobs are created by
small businesses, doing their best to grow and expand,” the Forward Agenda
said. “Unfortunately, outdated and unnecessary regulations often inhibit job
creation.”
So far, 27 percent of the
administrative code has been reviewed to cut red tape, eliminate old rules, and
ensure remaining regulations are fair. This work will continue in the coming
years. Assembly Republicans also seek to eliminate the position of the state
treasurer to streamline the government and make it efficient as possible.
Occupational Licensing Reform
Assembly Republicans also plan to
review the requirements for education, experience and licensing for occupations
to see whether any of them can be eliminated.
