{"id":14940,"date":"2025-01-27T14:04:03","date_gmt":"2025-01-27T15:04:03","guid":{"rendered":"https:\/\/wifamily.news\/?p=14940"},"modified":"2025-01-27T15:56:31","modified_gmt":"2025-01-27T15:56:31","slug":"state-business-leaders-support-tariffs-on-china","status":"publish","type":"post","link":"https:\/\/wifamily.news\/?p=14940","title":{"rendered":"State Business Leaders Support Tariffs On China"},"content":{"rendered":"

This post originally appeared at https:\/\/www.wmc.org\/press-releases\/state-business-leaders-support-tariffs-on-china\/<\/a><\/p>\n

Survey also Shows Support for Border Security, Visa and Tax Reform<\/em><\/strong><\/p>\n

MADISON<\/strong> \u2013 Wisconsin business leaders support President Donald Trump\u2019s plan to impose tariffs on goods imported from China, according to the latest Wisconsin Employer Survey<\/em><\/a><\/span>, conducted by Wisconsin Manufacturers & Commerce (WMC), the combined state chamber of commerce and manufacturers\u2019 association.<\/p>\n

Eighty-six percent of respondents of the semiannual WMC survey support imposing tariffs on countries like China in response to unfair trade practices. But business leaders have concerns about tariffs on nations like Canada and Mexico. Forty-four percent support 25 percent tariffs on imports from America\u2019s neighbors to the North and South, while 56 percent oppose. Still, 73 percent support President Trump\u2019s plan to use tariffs as a negotiating tactic to slow illegal immigration into the U.S.<\/p>\n

When asked how increasing tariffs would impact their business, 50 percent said it would have a negative effect, 26 percent said it would be positive, while 24 percent said it would have no impact.<\/p>\n

\u201cWisconsin is a manufacturing and agricultural state,\u201d commented Kurt Bauer, WMC president\/CEO. \u201cWe make, grow and process things and we want to sell them around the world. But business leaders are saying that we need our trading partners to play by the rules.\u201d<\/p>\n

The survey also shows that Wisconsin business leaders want to see immigration reform, but 89 percent say the plan should start with securing the U.S. southern border. As for what immigration reform should look like, respondents overwhelmingly support updating the nation\u2019s guest worker program, with emphasis on H-1B visas. Ninety-six percent support increasing the current 85,000-person cap on H-1B visas, which targets foreign workers with specialized skills. Further, nearly all support creating new visa options for high-demand workers to address Wisconsin\u2019s labor shortage.<\/p>\n

\u201cWMC has been advocating for reforming the guest worker program for some time,\u201d said Bauer. \u201cDemographic trends show that Wisconsin needs workers now and well beyond mid-century. Foreign workers must be part of the solution, or our state will lose jobs and the economic activity that goes with them.\u201d<\/p>\n

On taxes, 97 percent of respondents support making the provisions contained in the 2017 Tax Cuts and Jobs Act (TCJA) permanent. A new study<\/a><\/span> commissioned by the National Association of Manufacturers says that failing to renew the expiring tax provisions in TCJA will cost Wisconsin 110,000 jobs, $10 million in employee wages and $19.5 billion in GDP from the manufacturing sector alone.<\/p>\n

Manufacturing is Wisconsin\u2019s top economic sector, representing nearly 72 billion in GDP annually. The vast majority of survey respondents \u2013 90 percent \u2013 support lowering the U.S. corporate tax rate for manufacturers to 15 percent.<\/p>\n

Ninety-four percent of business leaders also support making permanent the 199A deduction that levels the tax rate between C-Corporations and pass-throughs, which isn\u2019t surprising given that around 90 percent of Wisconsin businesses are organized as pass-throughs, meaning shareholders rather than the corporation itself pays taxes. In addition, 97 percent support restoring the ability for businesses to deduct research and development expenses in the year they are incurred instead of being forced to amortize expenses over 5 years.<\/p>\n

\u201cRenewing the 2017 tax provisions is critical to our nation\u2019s global competitiveness,\u201d said Bauer. \u201cLowering taxes, along with reducing the cost of regulations and tapping U.S. energy resources, will be a massive force multiplier for our economy.\u201d<\/p>\n

The Wisconsin Employer Survey<\/em> is conducted twice a year by WMC. The assessment provides a snapshot of where Wisconsin\u2019s employers stand on a number of important issues and outlines their economic outlook for both Wisconsin and the U.S. For the Winter 2025 edition, WMC surveyed 153 employers that make up a representative sample of its membership. Businesses of all sizes, industries and geographic locations in Wisconsin participated.<\/p>\n

Click here to read the Federal Policy Report from the Winter 2025 survey.\u00a0<\/a><\/span><\/p>\n

# # #<\/p>\n

The post State Business Leaders Support Tariffs On China<\/a> appeared first on WMC Wisconsin’s Chamber <\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This post originally appeared at https:\/\/www.wmc.org\/press-releases\/state-business-leaders-support-tariffs-on-china\/ Survey also Shows Support for Border Security, Visa and…<\/p>\n","protected":false},"author":13,"featured_media":440,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[],"class_list":["post-14940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wmc"],"_links":{"self":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/14940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=14940"}],"version-history":[{"count":1,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/14940\/revisions"}],"predecessor-version":[{"id":14941,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/posts\/14940\/revisions\/14941"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=\/wp\/v2\/media\/440"}],"wp:attachment":[{"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=14940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=14940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wifamily.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=14940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}