May 22, 2012

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Hovde says mom-and-pops shoulder tax burden

April 23, 2012 By

U.S. Senate candidate Eric Hovde has a plan to overhaul our tax system targeting corporate welfare given by “career politicians.”

During a press event in Madison, the hedge fund manager turned political newcomer laid out his plan which includes simplifying the tax code: “I’m considered a financial expert but I need help having my taxes filled out. Think of how insane that is.”

Hovde also wants to reduce the corporate tax rate from its current 35 percent, down to 25 percent. The Republican said the tax system unfairly burdens smaller businesses especially those registered as L.L.C.’s or S. corporations, which face a 39 percent rate.

With the U.S. having the highest corporate tax rate in the world, Hovde said it creates an incentive for companies to move overseas.

His plan would also eliminate the federal estate tax, create income tax rates of only 10-and-25 percent, all while cutting individual income taxes

The Republican candidate also took jabs at the Buffett Rule, a bill spearheaded by Wisconsin Congresswoman Tammy Baldwin which would close tax loopholes for millionaires. He said the proposal makes no economic sense and does not address the “real loopholes” of corporate welfare.

Baldwin, a Democrat, is also running for U.S. Senate. Hovde faces four other Republican opponents going into the August primary. The winner will likely face Baldwin in the general election for the seat of vacating Herb Kohl.

AUDIO: Brian Moon reports (1:00)

Filed Under: Business, Economy, News

Moving forward on mining

April 9, 2012 By

Two key state Senators believe there may be a way to move forward on the contentious issue of mining in Wisconsin. Democrat Bob Jauch and Republican Dale Schultz met with Governor Scott Walker recently, and Jauch says they found themselves in agreement. “There’s nothing but a sincere commitment to work on this issue and get it resolved,” Jauch said. Legislation which would have rewritten Wisconsin’s existing mining regulations failed to pass the state Senate in March, when Jauch and Schultz raised concerns.

Former DNR Secretary George Meyer, and Wisconsin Mining Association president Tim Sullivan have been asked to work on the issue. “I think it is fully possible that by the start of the next legislative session we could have reached a consensus,” said Schultz. “Hopefully we’ll see more interest in mining in Wisconsin in a number of areas.” Jauch agreed with that potential. “If the right individuals who represent diverse viewpoints put together a good package, it can be a blueprint that we can support.”

Schultz said that in retrospect, it was a mistake to not involve the Bad River Band of Lake Superior Chippewa in discussions about rewriting the state’s mining laws to allow for an iron ore mine near that tribe’s lands. He said not finding a way to involve the tribe a substantive way “was a big mistake.” Bad River chairman Mike Wiggins voiced concerns about a proposed mine in the environmentally sensitive Penokee Range when he delivered the 2011 State of the Tribes address. Schultz believes all the state’s tribes ought to be involved in any future discussions. Schultz said the most recent State of the Tribes address by Ho-Chunk chairman Jon Greendeer showed the tribes are looking to work with the state.

Filed Under: Business, Environment & Conservation, Legislature, News

Landlord-tenant bill heads to governor

March 16, 2012 By

Legislation altering the landlord-tenant dynamic in Wisconsin is headed to the governor’s desk. The Assembly concurred in the Senate-passed bill as the legislative session wound to an end Friday. Ashland Democrat, Representative Janet Bewley, said the measure goes too far. “It does remove very important protections for tenants, in ways that are really unnecessary,” she said. “I just hate to see us end the session in a way that continues to denigrate, once again, the rights of the many for the profits of the few,” said Representative Kelda Roys of Madison. “I hope people understand that we will be back, in the next session, coming to a reasonable accommodation for the rights of renters, not just landlords,” said Madison Democrat, Representative Brett Hulsey.

The bill, authored by DePere Republican, state Senator Frank Lasee, would prohibit local governments from enacting a moratorium on evictions, allow landlords to immediately dispose of the property of evicted tenants, and to continue evictions against tenants who’ve paid them past-due rents.

Filed Under: Business, Legislature, News

Changing minds about manufacturing

March 16, 2012 By

Wisconsin’s largest business lobby works to solve the problem of too few skilled laborers in the state. At a Madison conference Thursday, WMC Foundation President Jim Morgan said manufacturing is no longer held in high esteem, although these trades are in need of workers.

He praised Wisconsin’s K-12 system but said schools need to talk about skilled labor jobs, and expose children early on, to the trades.

Morgan also said companies are telling him about job candidates who don’t want to work full time, for fear of losing their social benefits like unemployment insurance, BadgerCare or food aid. He said this has grown into a large market of “handymen” who draw unemployment while working under-the-table.

A number of business owners, educators and chambers of commerce representatives attended the gathering. Walker administration officials, DWD Secretary Reggie Newson and WEDC Secretary Paul Jadin, also spoke at the event.

AUDIO: Brian Moon reports (:60)

Filed Under: Business, News

Stepp enters mining fray

March 9, 2012 By

A bill rewriting Wisconsin’s mining regulations foundered in the state Senate this week, and now the secretary of the Department of Natural Resources is stepping into the fray. Richland Center Republican Dale Schultz played a pivotal role in rejecting a final offer from Republicans. “People need to know that that would substantially change Wisconsin’s environmental laws with respect to mining, and would allow the filling of streams and lakes, and would allow wholesale filling of wetlands,” Schultz said in an interview with WRCO radio. Schultz said Gogebic Taconite’s precipitous decision to pull out of a proposed iron ore mine this week was telling. “What they are obviously upset about is the fact that they got caught trying to change environmental laws here in this state. Basically they, I think, would kind of like to be able to mine the way they do in West Virginia. Mountaintop removal is what it’s called out there. It would be similar here.”

“To have some Senate Democrats or Senator Schultz saying that there are unanswered questions on environmental protections is just not true,” said DNR Secretary Cathy Stepp. “I just felt it was time for me to speak out so that people around Wisconsin understood what is really going on here.” Stepp released a statement critical of Schultz and Senator Bob Jauch, the Democrat whose district includes the Penokee Range, location of the proposed open-pit mine. “The failure of this bill in the state Senate, for the Senate Democrats killing this, really comes down to politics over policy, and that’s a tragedy,” said Stepp, adding that DNR staff remain “ready, willing and able” to oversee any future mining operations. “To be throwing up these potential things when we don’t even have a proposal in front of us . . . was really just trying to set up false tripwires.”

While Gogebic has apparently pulled the plug on its proposed mine, an Iron County business group is hoping an eleventh hour compromise might yet restart the process. The Iron County Development Zone has scheduled a noon rally for Saturday, at the Montreal City Hall. “The legislature is still in session next week, and it would be nice if they could take some action,” said the group’s Kelly Klein. “We want to show Gogebic Taconite that we do support them.”

READ: Statement from DNR Secretary Cathy Stepp (PDF)

Filed Under: Business, Environment & Conservation, News, Politics & Government
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