MADISON – Wisconsin Manufacturers & Commerce’s (WMC) Kurt Bauer recently sat down with Congressman Bryan Steil to discuss some of the policy issues at play for Wisconsin employers and families. WMC – the combined state chamber and manufacturers’ association – released a video of the interview on Tuesday. In the conversation, Bauer, WMC’s President & CEO, notes that Rep. Steil’s district is highly targeted this election cycle.
According to the most recent Wisconsin Employer Survey, inflation is the top issue for businesses around the state and was brought up several times during the conversation.
“Inflation has moved prices up over the past four years by about 20%. Families are getting clobbered,” said Steil in the interview. “How do we address that? It’s an opportunity to talk about the energy policy, about bringing the regulatory burden down, and about addressing reckless spending in Washington to bring inflation down.”
In addition to addressing inflation and its trickle-down impact on businesses and families, Steil discussed how tax reform can help reduce costs and grow the economy.
Accelerated depreciation and preferred tax treatments of R&D investments allow businesses to reinvest, create more jobs, increase skills and wages, and more. Steil suggested that leveraging the tax code would allow American workers to earn more and subsequently further contribute to the economy.
Bauer added that many Wisconsin manufacturers are struggling with the unnecessary costs of regulatory compliance. He referenced a National Association of Manufacturers (NAM) study that found the cost of regulation to be $3 trillion annually to comply.
“Regulation is suffocating – it’s stifling the American economy,” Bauer said.
Wisconsin businesses are also burdened by high energy costs.
“We need an ‘all-of-the-above’ energy approach to address our energy needs here in the state of Wisconsin,” Steil said. “We can’t have a regulatory burden by Washington, D.C. dictating the solution. We need to allow the market to dictate where we go on our energy needs.”
Click here to watch the full interview.
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