Gov. Tony Evers signed two bills into law aimed at providing restaurants across Wisconsin with financial relief at Coopers Tavern in Madison Monday morning. Evers was joined by other area restaurant owners, and the bills that received bipartisan support.
“Wisconsin’s restaurants play critical roles in our communities, bringing people together, bolstering tourism and travel and providing unique experiences to residents and visitors each day,” Evers said.
The fist bill creates a tax exemption for individuals under the Wisconsin individual tax income for those grants received under the Restaurants Revitalization fund created in 2021. The second bill brings state law into alignment with federal law by increasing the amount of ordinary income that can be offset by capital losses.
“They’ve [the restaurant owners] shown amazing resilience, ingenuity and flexibility over the last two years, but I know it hasn’t been easy and many are still struggling due to supply chain challenges, inflationary costs and workforce challenges that existed well before the pandemic,” Evers said. “I am glad to sign these bills today to help relieve a little bit of stress and worry for business owners as they head into tax season.”
“Supper clubs, cafes, restaurants, we are the core of what really makes Wisconsin, ‘Wisconsin,’ but the impacts of COVID-19 have fundamentally changed the way we operate,” Rep. Francesca Hong (D-Madison) said at the press conference, noting that “economic safety nets” didn’t seem to exist at the beginning of the pandemic.
The Coopers Tavern owner, Peter McElvanna, also spoke at the conference, thanking Evers and President Joe Biden for their support of the restaurant industry, particularly those restaurants that are minority owned. McElvanna claimed that these bills will help those owners overcome red tape when it comes to accessing these financial resources.
Evers additionally confirmed that he is likely to veto a Republican backed bill to break up Milwaukee Public Schools into smaller districts Tuesday.