Petersen's E-Press

Changing the Trend

Since being elected to the State Assembly, one of my focuses has been and will continue to be creating a business friendly environment in Wisconsin. It is essential for employers to have the tools they need to succeed.

Every mechanic knows more than one tool is needed to fix a car’s malfunction. Instead of approaching a repair job armed with only a screwdriver, the job is handled with a collection of tools in a toolbox.

In the same manner, none of the bills introduced in Governor Walker’s special session on jobs can alone fix the economic malaise being suffered in Wisconsin. Rather, each piece of legislation will play an integral role in reversing the trends we’ve experienced which chased untold jobs to other states.

Lawsuit Reform (Special Session Senate Bill 1) – Reforms Wisconsin’s legal climate by reversing court decisions and past legislation which made employers vulnerable to unnecessary, damaging, and frivolous lawsuits. These lawsuits impair small businesses and put a damper on job creation in our state.

HSA Deductibility (Special Session Senate Bill 2) – Making health savings accounts tax deductible, accords employers the ability to lower healthcare costs to its employees. This savings can then be put back into the business towards job creation. Petersen’s E-Press – January 28. 2011

Wisconsin Business Relocation Tax Holiday (Special Session Assembly Bill 3) – Allowing for a two-year tax holiday encourages job producing businesses to relocate to Wisconsin.

Additional Economic Development Fund Credits (Special Session Assembly Bill 4) – Increases the amount of credits available under Wisconsin’s economic development tax credit program by an additional $25 million.

Two-Thirds Supermajority for Tax Increases (Special Session Assembly Bill 5) – Requires any increases in state sales, excise and income taxes be approved with a two-thirds supermajority in the Assembly and Senate. Under current law, it only takes a simple majority of legislators to pass tax increases.

Wisconsin Economic Development Corporation (Special Session Assembly Bill-6) – Eliminates the Department of Commerce and Creates a public / private board tasked with developing and implementing economic programs.

Small Business Tax Credit (Special Session Assembly Bill 7) – Encouraging job creation for businesses, with a new direct tax deduction of $4,000 per-job created for businesses with less than $5 million in gross receipts and a $2,000 per-job created tax deduction for businesses with more than $5 million in gross receipts.

Regulatory Reform (Special Session Assembly Bill-8) Diminishes oversight or accountability of the rulemaking review process from non-elected bureaucratic authorities and gives it to both the governor and the legislature.

In its entirety, the special sessions jobs plan package will foster a backdrop for employers to create jobs in Wisconsin. Lowering taxation, and decreasing litigation, regulation, and health care costs for businesses, sets a new trend that Wisconsin is Open for business.

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A Capitol Visit

Representative Kevin Petersen, Jim Hanegraaf, Kathy Hanegraaf, Chris Hanegraaf, and Joe Hanegraaf in the Assembly Chamber

Respectfully,


Kevin Petersen
State Representative
40th Assembly District

 
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