Wednesday, November 19, 2008

Wisconsin Institute for Leadership calls for economic reforms

In an effort to stimulate the economy in Wisconsin, the Wisconsin Institute for Leadership has a list of proposals it feels the legislature should take up immediately:

WIL Calls for Economic Stimulus Package

Wisconsin Institute for Leadership Says Immediate Action Needed to Boost State

[Madison, Wisc..] The Wisconsin Legislature should immediately pass a series of economic development proposals to stimulate the state's economy, according to the Wisconsin Institute for Leadership.

"Before any expensive new government programs are contemplated, and before the State comes to individuals and businesses for even more taxes, the legislature and the Governor should pass these common sense economic development measures to stimulate the free market in Wisconsin ," said WIL Executive Director Brian Fraley .

WIL says Wisconsin should:

Ø Stop the Grey Drain and keep assets in our economy by completely eliminating the tax on retirement benefits for Wisconsin citizens over the age of 65

Ø Encourage investing by doubling the Angel Investment Credit limit

Ø Reward risk by providing inducements of in-state reinvestments of capital gains

Ø Get the government off the backs of law abiding business by passing public nuisance law reform

Ø Create jobs by lifting the nuclear power moratorium

Ø Help small businesses by allowing Health Savings Account tax deductibility

Ø Restrain state spending by launching a website which lists all agency expenditures over $100 within 15 days.

"The first rule of holes is that when you find yourself in one, stop digging," said Fraley. "So the first order of business for the new legislature is to rein in state spending and state agencies that stifle growth. And we should be encouraging investment and rewarding risk in order to shore up our economy here at home."