MacIver News Service | Feb. 12, 2018
By: Bill Osmulski
MADISON, Wis. – The Senate Committee on Agriculture, Small Business and Tourism will hold a public hearing on a bill that would result in a limited repeal minimum markup this Wednesday at 10:30 am.
SB 263 was introduced way back in May and was referred to committee, but it’s sat there ever since. A companion bill, AB 359, was introduced in the Assembly a few days later. It’s been sitting in the Committee on Small Business Development Since June 1.
Wisconsin adopted minimum markup laws back during the Great Depression as a way to protect local businesses. It prohibits companies from selling products below cost. Additionally, certain products are required to sell for a minimum profit, or markup.
SB 263 would eliminate that practice for prescription drugs and merchandise. However, minimum markup would remain unchanged for gas, tobacco, alcohol, and groceries.