Governor Tony Evers delivered his first budget address last Thursday. Your WBA Advocacy Team has been going through the budget ever since, and we've highlighted the issues below as being at least somewhat related to the industry and/or our customers.

  • The good news: nothing bad specifically targeting the banking industry.
  • The bad news: nothing good specifically given the banking industry.

Either way, legislative Republicans have announced that they will not be using Governor Evers budget and will instead craft their own. There will be deal-making going on through the summer, so some concepts in Evers budget could be included in the current or amended form. However, Republicans feel they have the upper hand as if there is no budget passed by June 30, the state simply spends money at the same levels from the last budget. Any Evers veto only takes away any potential spending increases.

We will provide more analysis, but linked below is the bill itself and a plain language description.

Evers Budget Bill

Plain Language Budget in Brief

List of identified issues:

  • WEDC Changes - More disclosure from loan recipients
  • Minimum Wage Increased and indexed thereafter
  • FMLA Expansion
  • Increased CAFO Fees
  • Bonding for new water lines
  • DATCP Hemp Positions - three more
  • Legalization of Medicinal Marijuana
  • Codifying Obamacare into state statute
  • Property Taxes Increase minimum 2%/year
  • Repeal of State Pre-emption of certain employment local ordinances (wage lien, minimum wage, etc.)
  • Creation of a tax-advantaged first-time home buyer savings accounts
  • Historic Rehabilitation Tax Credit Changes
  • Repeal of NOL Carryback (Matching federal law)
  • Amend calculation of low-income housing tax credit
  • Limit capital gains exclusion
  • Real estate transfer fee exemption
  • Student Loan Refinancing Study
  • Wisconsin Forestry Practice Study
  • Dark Store Legislation
  • Undocumented Immigrant Driver’s License creation

If you have any questions, please let me know! Click here to email.