Brian Dake

Gov. Scott Walker on Wednesday directed the Wisconsin Department of Transportation to evaluate the possible expansion of Interstate 41 between Appleton and De Pere.

A number of state and local officials have previously pushed for the expansion to ease congestion on the increasingly busy stretch of interstate.

The stretch of I-41 from Breezewood Lane in Neenah to the north junction of State 441 in Appleton has averaged nearly 470 crashes a year in the last five years, according to the DOT.

“After speaking with community leaders and elected officials regarding the importance of Interstate 41 to the continued growth of northeastern Wisconsin, I am calling on the Department of Transportation to evaluate expanding the Interstate 41 section between Appleton and De Pere,” Walker said in a released statement.

If the expansion would happen, it would come on the heels of a seven-year project that saw I-41 expanded from De Pere to just north of Green Bay. That $1 billion project, which stretched from 2010 to 2017, revamped 14 miles of the interstate.

For the second straight month the number of homes for sale has risen in Wisconsin.

The report from the Wisconsin Realtors Association released Monday found home inventory rose 3.4 percent last month compared to the same time last year.

Two straight months of increases, after more than a year of declining inventory, could mean the state’s issues with housing supply may be easing, says David Clark of Marquette University

“These are peak months for closing on homes,” Clark said. “To see some improvement in inventories, even in those high-volume months, is a suggestion that maybe we have turned the corner a little bit.”

Clark said the limited supply of homes for sale has been driving up prices.

The median price of an existing home in July stood at $192,900, up 7.5 percent from July 2017.

Rising home prices, he said, can motivate homeowners to sell.

“We’ve seen pretty consistent upward movement in prices, and the increase in prices has put some incentive for new sellers to list their homes,” Clark said.

While inventory rose in July, sales of existing homes dropped about 3 percent last month compared to July 2017.

Home sales from January through July are down about 3 percent from the same period last year.

Wisconsin added 9,100 private sector jobs in July and the state’s unemployment rate remained 2.9 percent, according to federal Bureau of Labor Statistics data released by the state Department of Workforce Development.

An increase of 2,800 jobs in leisure and hospitality, 2,400 in durable goods manufacturing and 2,300 in education and health services helped drive the increase. Professional and business services was the only sector with a decrease in employment, down 1,300. Government employment was also down 400.

The state’s labor force participation rate remained unchanged at 68.9 percent. The number of people classified as unemployed increased 1,800 to 92,900. Overall employment decreased 2,000.

According to the latest data, the state added 28,400 private sector jobs during the first half of 2018. The state has added 38,500 private sector jobs from July 2017 to July 2018, according to the DWD release. That includes the addition of 21,300 manufacturing jobs over that period of time.

The Wisconsin Department of Revenue (DOR) released its annual Equalized Value Report. The report shows that Wisconsin’s total statewide equalized property value as of January 1, 2018, was $549 billion, a 4 percent increase over the prior year. Equalized Values are based on data from January 1, 2017 to January 1, 2018.

Wisconsin residential property was valued at $388 billion as of January 1, 2018, an increase of 5.1 percent, or $18.9 billion. The 5.1 percent increase marks the greatest one-year increase in residential values since 2007.

The DOR report also shows construction activity continues an upward trend. Wisconsin added $8.5 billion in new construction during 2017, including $4.2 billion in residential property,  $3.7 billion in commercial property, and $437 million in manufacturing property.

The DOR report indicates commercial property values are $109 billion, an increase of 6.8 percent or $7 billion. Manufacturing property is valued at $15 billion, an increase of 4.5 percent or $652 million from the prior year. Agricultural land is valued at $2 billion, an increase of 2.5 percent from a year earlier. Lastly, the value of personal property decreased by 27.3 percent, to $9.4 billion.

Equalized Values are calculated annually and used to ensure statewide fairness and equity in property tax distribution. The Equalized Value represents an estimate of a taxation district’s total taxable value, and provides for the fair apportionment of school district and county levies to each municipality. Changes in Equalized Value do not necessarily translate into a change in property taxes.

Governor Scott Walker announced $10 million is available to contractors through the Wisconsin Housing and Economic Development Authority’s (WHEDA) Contractors Loan Guarantee (CLG) program. WHEDA will partner with local lenders to guarantee 50 percent or up to $750,000 on new loans, helping contractors pay expenses for working on qualified contracts.

The CLG is designed to help address one of the biggest barriers for contractors bidding on construction projects – limited access to capital. WHEDA, along with its lending partners, will make access to capital quicker and more affordably through this program. The CLG helps reduce financial risk for the lender while ensuring that Wisconsin contractors have access to funding.

Program enhancements include:

• Streamlined application – The loan approval process has been streamlined and simplified. WHEDA will be utilizing an eligibility checklist that will take approximately one week to approve.
• Expanded eligibility – The CLG will now be open to general contractors and subcontractors who meet the eligibility criteria.
• Reduced fees – The only fee will be 3% on the guaranteed amount of the loan at closing. There will no longer be an annual servicing fee.

The Public Service Commission of Wisconsin has issued the final version of its biennial Strategic Energy Assessment (SEA). This is the 10th Strategic Energy Assessment issued by the Public Service Commission.

Every two years the Commission is charged with assessing Wisconsin’s energy demands, how those demands will be met, and the reliability of the electrical system in the upcoming years. The report includes data and information from Wisconsin utilities, power cooperatives, municipal electric companies, and other electricity and transmission providers.

This year’s SEA details residential customer energy consumption. Due to energy efficiency standards, Wisconsin’s median income family pays a similar percentage of their income each month towards energy use, when compared to other Midwest states. Additionally, Commission staff has undertaken goals to modernize our grid, and improve reliability across the state.

The SEA also documents Wisconsin’s diverse energy portfolio. Wisconsin utilities have already met their 10% renewable portfolio standards, and many have taken it upon themselves to expand programs that cut emissions and expand renewable energy sources.

Yesterday, the Internal Revenue Service issued proposed regulations for a new provision allowing many owners of sole proprietorships, partnerships, trusts and S corporations to deduct 20 percent of their qualified business income.

The new deduction — referred to as the Section 199A deduction or the deduction for qualified business income — was created by the Tax Cuts and Jobs Act. The deduction is available for tax years beginning after Dec. 31, 2017. Eligible taxpayers can claim it for the first time on the 2018 federal income tax return they file next year.

The deduction is generally available to eligible taxpayers whose 2018 taxable incomes fall below $315,000 for joint returns and $157,500 for other taxpayers. It’s generally equal to the lesser of 20 percent of their qualified business income plus 20 percent of their qualified real estate investment trust dividends and qualified publicly traded partnership income or 20 percent of taxable income minus net capital gains.

Deductions for taxpayers above the $157,500/$315,000 taxable income thresholds may be limited. Those limitations are fully described in the proposed regulations.

Qualified business income includes domestic income from a trade or business. Employee wages, capital gain, interest and dividend income are excluded.

In addition, Notice 2018-64, also issued today, provides methods for calculating Form W-2 wages for purposes of the limitations on this deduction. More information in the form of FAQs on Section 199A can be found on IRS.gov.

Taxpayers may rely on the rules in these proposed regulations until final regulations are published in the Federal Register.

President Trump will impose 25 percent tariffs on $16 billion worth of Chinese imports starting Aug. 23, the United States Trade Representative announced Tuesday.

The tariffs will affect goods such as electronic parts, plastics, chemicals, batteries, and railway cars.

The new round of tariffs completes Trump’s threat to impose $50 billion of import taxes on Chinese goods. The first $34 billion-worth went into effect on July 6.

China has already slapped back at the U.S. with its own tariffs on American goods, specifically targeting products from politically sensitive areas. It is expected to respond in kind to the latest round of tariffs.

Trump has indicated that the tariffs are meant to bring about better trade deals. The U.S. is currently in the process of renegotiating the North American Free Trade Agreement with Canada and Mexico. In late July, Trump and European Commission President Jean-Claude Juncker said they would embark on negotiations for a new trade deal between the U.S. and the E.U., and freeze the escalating tit-for-tat tariffs.

While health care outcomes in Wisconsin place it among the best in the country, the costs associated with receiving health care in the state are among the worst, according to a recent analysis by WalletHub.

The study ranked Wisconsin 23rd overall in the U.S. for its health care, based on metrics including doctor visits costs, insurance premiums, hospital quality, physicians per capita and emergency room wait times.

Wisconsin ranked 9th in the nation for its health care outcomes, based on mortality rates among infants, children and pregnant women; life expectancy; cancer and disease rates and hospital readmission rates. The states with the best health care outcomes were Vermont at No. 1, followed by Massachusetts, Colorado, New Hampshire, Hawaii, Utah, Connecticut and Minnesota.

Meanwhile, the state ranked 47th for health care costs, which included the cost of medical and dental visits, average monthly insurance premiums, the share of high out-of-pocket medical spending and share of adults who don’t visit the doctor due to cost.

Wisconsin ranked 13th for its health care accessibility, which took into account the quality of public hospital systems, hospital beds per capita, average emergency room wait times, physicians per capita, and the acceptance rates of Medicaid and Medicare among physicians.

According to the study, the states with the best health care systems based on cost, outcomes and accessibility were: Vermont at No. 1, followed by Massachusetts, New Hampshire, Minnesota, Hawaii, Rhode Island, Colorado, District of Columbia, Iowa and Maryland.