Month: March 2026

Since the United States Treasury minted its final penny on November 12, 2025, some businesses in Wisconsin and across the country have begun rounding change in cash transactions to five-cent intervals, with different businesses utilizing different methods of rounding – some rounding up, some rounding down, and some a mix of both.

The Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP) and Wisconsin Department of Revenue (DOR) have issued guidance to businesses that are considering implementing a rounding practice to simplify and standardize rounding practices in Wisconsin to provide greater predictability and protection for Wisconsin consumers.

DATCP Guidance

Cash ​​rounding is applicable only to cash transactions where chang​e is required after the total amount due (price plus tax) has been calculated and cannot be provided.

While businesses can choose their rounding methodology, DATCP suggests rounding down to minimize consumer harm and ensure fairness and consistency:

• $0.01, $0.02 , $0.03 or $0.04 round down to $0.00.
• $0.06, $0.07, $0.08 or $0.09 round down to $0.05.

​DATCP will use discretion enforcing state regulations related to the Unfair Sales Act; Price Accuracy; and Untrue, False, or Misleading Representations complaints and/or inspections to ensure that all consumers are treated fairly. Businesses should be conscious of the fact that there is a greater likelihood for co​nsumer harm with a business applying a rounding up practice and should take care to avoid undue consumer burden. DATCP will evaluate all complaints and inspections related to any rounding practices based on the facts on a case-by-case basis.

Regardless of the methodology a business chooses to adopt for cash rounding, DATCP encourages businesses to post a clear and informative flyer conspicuously at entrances and any point of sale communicating any rounding policy.

DOR Guidance

The penny shortage does not impact how sales tax is calculated on a retail sale. Retailers multiply the sales price of taxable items by the Wisconsin sales tax rates and round that amount to the nearest cent ($0.01), as provided in sec. 77.61(3m), Wis. Stats., and sec. Tax 11.32(5), Wis. Adm. Code. If a retailer chooses to round the cash transaction to the nearest nickel, such rounding should occur after the sales tax is calculated.

This guidance applies only to Wisconsin sales and use tax; rounding cash transactions may present other issues and businesses should consult with their legal advisor before changing any business practices.

U.S. Secretary of Energy Chris Wright released the following statement regarding the International Energy Agency (IEA) and the U.S. Strategic Petroleum Reserve (SPR):

“Earlier today, 32 member nations of the International Energy Agency unanimously agreed to President Trump’s request to lower energy prices with a coordinated release of 400 million barrels of oil and refined products from their respective reserves.

As part of this effort, President Trump authorized the Department of Energy to release 172 million barrels from the Strategic Petroleum Reserve, beginning next week. This will take approximately 120 days to deliver based on planned discharge rates.

For 47 years, Iran and its terrorist proxies have been intent on killing Americans. They have manipulated and threatened the energy security of America and its allies. Under President Trump, those days are coming to an end.

Rest assured, America’s energy security is as strong as ever.”

The consumer price index increased a seasonally adjusted 0.3% for the month, putting the 12-month inflation rate at 2.4%, according to Bureau of Labor Statistics data released Wednesday.  Stripping out volatile food and energy prices, the core CPI posted a 0.2% monthly reading and 2.5% annual rate.

Shelter, which is the single-biggest component of the CPI, posted a 0.2% increase, putting the annual rate at 3%. Within the category, rent rose just 0.1%, the smallest monthly increase since January 2021.

Apparel prices, which are sensitive to tariff pressures, saw a 1.3% monthly gain. New vehicle prices were steady and up just 0.5% from a year ago, while energy rose 0.6% and also saw a 0.5% annual increase.

Food prices accelerated 0.4% for the month and were up 3.1% from a year ago.

“CPI inflation for February was along expectations but this is the calm before the storm that will show up due to surging gasoline prices in March,” said Sonu Varghese, chief macro strategist for the Carson Group. “Still, this report does show that the Fed has an inflation problem even if you set aside the energy shock. Tariff-impacts are still hitting core goods inflation, while services inflation outside housing remains hot.”

Justice Annette Ziegler, a conservative who has sat on the Wisconsin Supreme Court since 2007 and served four years as chief justice, will not seek reelection to the court next year.

In an announcement Monday morning, Ziegler said she will serve out the remainder of her term but not appear on the April 2027 ballot, setting up what will be an open race.

“I am incredibly proud that in all my elections I had support from a broad spectrum of legal, civic, law enforcement and political leaders — both Democrats and Republicans — who believed in my commitment to fairness, ethics and the rule of law,” Ziegler said in a written statement. “I am also grateful to my colleagues on the Supreme Court, both past and present, for their faith in me by choosing me to serve as chief justice for two terms.”

Ziegler was first elected to the court in 2007, defeating Madison attorney Linda Clifford in what was seen at the time as one of the first big money races for the court. She was reelected in 2017 after an uncontested race. In recent years, the idea of a noncompetitive Wisconsin Supreme Court race has become almost absurd, as the last two high court races shattered national records for spending and framed by both liberals and conservatives as existential for their respective movements.

Ziegler holds a law degree from Marquette University, and served as a private attorney, assistant U.S. attorney and Washington County Circuit Court judge before she was elected to the Supreme Court.

Oil prices held steady Wednesday, after Treasury Secretary Scott Bessent said the Trump administration will provide support to oil tankers transiting the Persian Gulf and announce more measures in the coming days.

WTI crude nearly topped $78 a barrel at its high this week since the U.S. and Israel launched a massive wave of airstrikes against OPEC member Iran over the weekend. Iran has responded with volleys of missile and drone strikes against targets across the Middle East, including energy infrastructure.

U.S. crude jumped 6% on Monday and 5% on Tuesday.

The oil market has calmed after President Donald Trump said Tuesday that the U.S. would insure tankers through the International Development Finance Corporation. Trump also promised naval escorts for oil traffic in the Persian Gulf if necessary.

Oil turned lower as Bessent told CNBC Wednesday that the White House would make a series of announcements to support the oil trade in the Gulf.

“We have a series of announcements that we’re going to be making,” Bessent said on CNBC’s “Squawk Box.” “We began yesterday with the announcement that DFC will provide the insurance for both the crude carriers and the cargo ships operating in around the Gulf over the weekend.”

The IRS published Schedule 1-A (Form 1040), Additional Deductions, along with updated instructions for Form 1040, U.S. Individual Income Tax Return, that explain how taxpayers can claim the new deductions for tips, overtime, and car loan interest, and the enhanced deduction for seniors.

Schedule 1-A does not differ from the draft version issued last year for calculating the four deductions enacted by H.R. 1, P.L. 119-21, commonly known as the One Big Beautiful Bill Act, on a single form. The instructions do provide details on how all four apply, however.

Taxpayers calculate the amount of the deductions that apply to them, add the amounts together, and include the total on line 13b of their Form 1040 or Form 1040-SR, U.S. Income Tax Return for Seniors, or on line 13c of Form 1040-NR, U.S. Nonresident Alien Income Tax Return.

The form also includes a section for calculating the taxpayer’s modified adjusted gross income, which is used in calculating phaseouts for the four deductions.

All four deductions expire after 2028.

Gov. Tony Evers says he’s optimistic that he and Republican legislative leaders will strike a deal to lower property taxes and increase school funding.

At a Madison luncheon event hosted by WisPolitics Thursday, Evers said that he will meet again with Assembly Speaker Robin Vos, R-Rochester, and Senate Majority Leader Devin LeMahieu, R-Oostburg, in the coming weeks.

“We’re still talking, we’re hopeful that we get some solutions soon,” he said. “When you do things in a bipartisan way, you give things up, get something in return, same with the other side. And so we’re continuing to do that.”

He and GOP leaders have gone back and forth for months over how to reduce Wisconsin’s high property tax rates. While Republican leaders blamed his “400-year veto” for increasing school revenue limits, Evers said investing in schools would reduce the need for communities to go to referendum.

Republicans eventually backed off their demand that Evers repeal his veto, and Evers suggested Thursday that he’s holding fast to his preferred funding mechanism for schools, which would be increased school aids.

“I believe that if we want to take make a huge effort around equalized aid for the state of Wisconsin schools, we should be putting more money into that, and that will help property taxes be relieved,” he said.

In their last public counter to the governor, Republicans proposed a different type of tax relief, calling for $1.48 billion in direct tax rebates to residents. On Thursday, Evers called the effort to mail out rebate checks “maximum politics.”

“That’s (an) election year issue,” he said. “I just don’t think it’s wise.”