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Fewer Workers, High Taxes, Uncompetitive
The latest warning from Wisconsin businesses goes beyond the state’s workforce problems.
Wisconsin Manufacturers and Commerce on Wednesday released its Wisconsin Competitiveness Report.
It once again says Wisconsin is aging, and losing too many workers.
"According to the U.S. Census Bureau, the median age in Wisconsin is 40.7 – more than a year older than the national average. Residents age 65 and older make up 19.2 percent of the population, compared to 18 percent nationally," the report states. "Wisconsin’s labor force participation peaked in 1997 and has steadily declined since. Last year, the state recorded its lowest labor force participation rate on record, with less than 65 percent of residents working or actively seeking work. Today, our labor force participation rate is actually lower than it was at the height of the COVID‑19 pandemic."
But the Competitiveness Report said Gov. Tony Evers and statehouse Democrats are also putting Wisconsin in a position to fall behind.
"For four straight budgetary terms, Governor Evers has proposed devaluing and cutting essential features of the Manufacturing & Agriculture Tax Credit," the report added. "Additionally, Governor Evers sought to double the energy tax on the monthly electric and heating bills for residential, commercial, and industrial customers in his 2025–2027 budget proposal – a tax he has repeatedly sought to increase in the past."
The report also expresses concerns about Gov. Evers' 400-year school funding order, and the state's tax climate.
"Wisconsin’s current corporate tax rate is the 12th highest in the nation at 7.9% While Wisconsin’s corporate tax rates don’t apply to the majority of Wisconsin businesses, the state’s heavy burden on its top individual tax bracket similarly tacks a hefty tax burden on the bulk of Wisconsin businesses, the report states.
You can read the full Competitiveness Report here.
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