MADISON- Today, Representative Andrew Hysell (D-Sun Prairie) and Senator Brad Pfaff (D-Onalaska) introduced legislation that will require large retailers in Wisconsin to identify tariffs assessed to goods purchased by consumers through a separate line item on sales receipts and invoices.
Today, Americans face record tariffs at levels not seen since 1933. Tariffs are taxes paid by businesses to the government which are then frequently passed along to consumers. As a result, financial services firm Goldman Sachs predicts that American households will pay an extra $2,400 in costs this year alone.
“Wisconsin taxpayers have a right to know what tariffs they are paying for because a hidden tax is still a tax,” said Rep. Hysell. “Tariffs on the purchase of back-to-school supplies increase costs for moms and dads. Tariffs on vehicles mean larger car payments. The Tariff Tax Transparency Act will empower consumers to understand the federal tax on the goods they purchase. With prices increasing, Wisconsinites need as much information as possible to make the financial decisions that are the best for them and their families.”
“Washington’s tariffs are driving up costs for everyone in Wisconsin,” said Sen. Pfaff. “It’s time to pull back the curtain and show people exactly how much these hidden taxes are adding to their bills.”
