Statement on of Governor Walker’s Support of Small Businesses and the Farm Community from Rose Oswald Poels, president/CEO of the Wisconsin Bankers Association
“WBA applauds Governor Walker’s support of small businesses and our farm community as shown in his recent State of the State address.
Governor Walker’s small business agenda is important to the economic success of Wisconsin. Small businesses play a critical role in the U.S. economy. According to Federal Reserve Board data, small businesses employ approximately one-half of all Americans and account for about 60 percent of gross job creation.
WBA supports a budget provision designed to help stimulate additional credit availability and job creation through the U.S. banking system, with a focus on promoting small business lending. This would create a tax exemption for loans under $10 million that are for small business and agricultural purposes.
This proposal will generate nearly a quarter billion dollars worth of lending capacity at Wisconsin banks. It would also provide increased access to cheaper credit for small businesses and farmers in an
increasing interest rate environment.
WBA looks forward to working with Governor Walker and the legislature over the rest of the session and the next session to improve Wisconsin’s tax climate."