Contact:
Emily Carlson,
NFIB Senior Media Manager
515-209-0164
emily.helland@nfib.org
NFIB State Director in Wisconsin
608-255-6083
Bill G. Smith
bill.smith@nfib.org
608-516-9872
MADISON (July 6, 2023) The National Federation of Independent Business in Wisconsin, or NFIB, expresses disappointment with the Governor’s recent action to veto important tax legislation that would have provided Wisconsin small business owners with some much-needed tax relief.
Today, State Director Bill G. Smith, NFIB State Director in Wisconsin called Governor Evers’ vetoes a missed opportunity to significantly reduce the tax burden on small business owners.
“Wisconsin’s small business community is disappointed by the Governor’s veto of the top two individual income tax rates. It is disheartening that Governor Evers chose to veto significant tax reductions for thousands of small business owners. Since many small business owners pay taxes according to individual tax rates, the Governor missed a historic opportunity to reduce the high tax burden that many of Wisconsin’s hard-working entrepreneurs are struggling with,” said Bill G. Smith, NFIB State Director in Wisconsin.
The numbers are clear: small businesses continue to struggle. The latest NFIB survey of small business owners, out today, found that 42% of small business owners have job openings they can’t fill. The share of small business owners with unfilled job openings far exceeds the 49-year historical average of 23%. The survey also found that the percent of small business owners reporting labor quality remains high at 24%. Labor costs are the single most important problem facing small business owners right down.
Smith also expressed NFIB small business owners’ disappointment in the Governor’s failure to veto a dramatic increase in the Retailers Sales Tax Discount.
“The Governor should have used his veto authority to prevent big box retailers from skimming millions of dollars of sales tax revenue, a provision of the budget bill strongly opposed by small business retailers,” said Smith.
“As a result, big business retailers will receive a windfall of sales tax revenue from the budget provision which increases the current discount cap from $1,000 per filing to $8,000. NFIB and our 10,000 small business owners here in the state were clear that they wanted the Governor to veto this unjustified and indefensible provision. “Now, millions of dollars of sales tax revenue will be redirected to big box retailers while ignoring the needs of small mom and pop shops in every corner of the state,” said Smith.
