Main Street Business Applicants in WI Increased Under Biden and Evers, GOP Plan Would Raise Taxes on Small Business Owners
MADISON, Wis. – Thanks to steadfast leadership from President Biden, Governor Evers, and Wisconsin Democrats in Congress, our state’s economy is getting back on track. Since President Biden took office in January 2021, our state’s economy has added 72,100 jobs – recovering 84 percent of the jobs lost in-state between February 2020 and April 2020.
Wisconsinites also applied to start more new small businesses last year than any year since 2005 – growing and supporting local economies.
Last year, using funds from President Biden’s American Rescue Plan, Gov. Evers created the Main Street Bounceback program, which has helped more than 4,500 small businesses open or expand into empty storefronts across the state. Gov. Evers has invested over a billion dollars in small businesses during his first term. As a share of federal aid our state has received, Wisconsin ranks first in the country in aid allocated to businesses.
Meanwhile, the chair of the National Republican Senatorial Committee put forward a plan that could put Wisconsin’s economic progress in jeopardy. In addition to raising taxes on 32 percent of the state and putting seniors’ benefits on the chopping block, this MAGA agenda would increase taxes on over half of Wisconsin business owners – with the average business owner seeing an average increase of $700 a year. Notably, the Republican plan would raise taxes on 80 percent of business owners who earn less than $50,000 per year.
“From day one, President Biden and Governor Evers have been focused on lowering costs for working families and growing the middle-class from the bottom up and middle out,” said Democratic Party of Wisconsin Rapid Response Director Julia Hamelburg. “The difference couldn’t be more clear: while Democrats work to lower costs, Republican politicians are pushing an agenda that could hike taxes on Main Street businesses across our state.”