WIB Member Input Needed on "Right the Rules" Initiative
Fortunately for WIB and its members, small business regulatory relief is also a high priority for the Republican-led State Assembly which is conducting its own comprehensive review of all state government regulations. The goal of the “Right the Rules” initiative is to reduce and\or relieve the regulatory burden on Wisconsin businesses.
This is an enormous undertaking that will take at least three to four years to complete. There are more than 11,700 pages of state government regulations divided amongst 1,768 administrative code chapters.
State Representative Dan LeMahieu (R-Cascade), the Co-Chair of the Joint Committee for Review of Administrative Rules is leading the “Right the Rules” project. It is his intention to conduct this project in a systematic manner.
The committee’s regulatory review includes informational meetings and public hearings. Through this process, Assembly lawmakers are asked to answer a number of questions including:
a) Does the regulation promote or hinder job growth?
b) What are the compliance costs of the regulation?
c) Have there been any complaints about the regulation?
Definitive answers to these and other questions will guide future legislative efforts to repeal and\or modify existing state government regulations. In theory, this process should work well. In practice, it will require active participation from you and other WIB members.
Your first-hand knowledge and experience can focus attention on the most burdensome state government regulations.
Register your concerns and complaints online at firstname.lastname@example.org. You can also chart the progress of this ongoing regulatory review effort through the Right the Rules website – http://righttherules.legis.wisconsin.gov.
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GOP Lawmaker Working on Revamp of Tax Code
A Republican member of the Legislature’s powerful budget committee wants to overhaul the state’s income tax system, including eliminating little-used tax credits, reducing tax brackets and lowering overall rates.
Rep. Dale Kooyenga, R-Brookfield, said he plans to announce a detailed proposal Tuesday that would increase the amount of the income tax cut in Gov. Scott Walker’s state budget proposal by at least $300 million and reduce individual income tax brackets from five to three.
Exact details of which credits would be cut, the amount of the rate reduction and how much more the tax cut would cost are still being worked out, Kooyenga said. He added that he would also like to change the withholding formula so that the state wouldn’t take as much money from each paycheck, only to refund it the following tax season.
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