LEGISLATURE PASSES BEWLEY BILL TO END TAX BREAKS FOR BUSINESSES THAT MOVE JOBS OUT OF WISCONSIN
Madison – State Senator Janet Bewley (D-Delta) released the following statement today after legislation to eliminate tax deductions for moving expenses for businesses that leave Wisconsin passed the Senate.
“Providing tax breaks for businesses relocating to Wisconsin makes sense. Giving tax breaks to companies that move jobs out of Wisconsin doesn’t.
Most people are shocked when I tell them that under current law, a business may deduct from its Wisconsin income or franchise taxes all expenses that the business paid to move operations out of the state, including expenses paid to relocate outside of the United States. I don’t think it makes sense for the state to give this kind of tax break to companies that are taking jobs to other states and other countries.
I introduced this bill in previous sessions, but it never moved forward. In fact, when I first introduced it in 2011, not a single one of my Republican colleagues signed onto the bill. I kept at it and after years of effort, I handed the bill over to Representative Neylon and Senator Feyen, who agreed to be lead authors on the bill. 2019 Assembly Bill 10 has 21 Republican co-authors, passed the Assembly earlier this month and received final approval in the Senate today. I hope this new-found spirit of bipartisanship is a harbinger of even more good things to come.”