For Immediate Release
Contact: Karen Hickey, 414-573-7579, [email protected]
Bipartisan Assembly Bill 10 becomes law
MADISON – Wisconsin State AFL-CIO President Stephanie Bloomingdale joined longtime Assembly Bill 10 co-sponsors Senator Janet Bewley (D-Mason) and Representative Chris Taylor (D-Madison) along with representatives from both sides of the aisle as Governor Tony Evers signed Assembly Bill 10 into law today in Madison. Assembly Bill 10 eliminates a tax loophole that allowed companies to deduct moving expenses from their taxes when moving jobs out of state.
Stephanie Bloomingdale, President of the Wisconsin AFL-CIO, commended Gov. Tony Evers on the bill signing and released the following statement.
“We commend Gov. Evers and politicians from both sides of the aisle for coming together to update our tax code to better protect Wisconsin jobs and Wisconsin workers,” said Wisconsin State AFL-CIO President Stephanie Bloomingdale. “For too long, Wisconsin taxpayers picked up the tab when companies shipped Wisconsin jobs out of state. This commonsense tax code update is one step in ensuring our laws better support Wisconsin job growth and our local economy. We hope legislators continue to work together to create good Wisconsin jobs, raise wages, and restore worker rights in Wisconsin.”
“We shouldn’t be giving companies a pat on the back for putting hardworking Wisconsinites out of work and for taking economic activity out of the state,” said Assembly Bill 10 co-sponsor Representative Chris Taylor (D-Madison).
Assembly Bill 10 will end the ability of companies to deduct the cost of moving expenses from their taxes when they move operations outside of Wisconsin or to another country. Formerly, Wisconsin law allowed for companies to deduct from their taxes the cost of moving expenses when they moved operations anywhere – be it within Wisconsin, outside of Wisconsin, or to another country.