Government Affairs
Wisconsin's Global Warming Bill
Four Democrats recently introduced a comprehensive set of goals to address “global warming” that will be under discussion this winter. Best we become aware of it early on, as its provisions could greatly affect housing’s affordability. It calls for all newly constructed residential and commercial buildings to be “zero net energy” buildings by 2030. It also specifies that the International Energy Conservation Code (IECC) or similar be adopted. The Commerce Department would be barred from considering cost as the unreasonable burden if this legislation passes. I can email you all this stuff if you have time on your hands. If you are a member of the Wisconsin Builders Association, you can get weekly summaries from Brad Boycks who tracks legislation affecting our businesses.
TAXES.
Since none of us were born yesterday, it is apparent that taxes will soon begin to tear into more of our incomes. Although it is a challenge, I suggest you plan for it now. Talk with someone who can give you some ideas; should you recognize more income this year? Should losses be postponed? Should you sell before capital gains taxes go up? Should you keep more money or less in your company and will you be able to take it out later or suffer a penalty? You can bet that as soon as there is the hint of a recovery, there will be lots of pressure to increase your tax burden.