Kind, Booker, Scott, Kelly Introduce Bipartisan, Bicameral Bill Improving Opportunity Zones
Rep. Ron Kind (D-WI), Sen. Cory Booker (D-NJ), Sen. Tim Scott (R-SC), and Rep. Mike Kelly (R-PA) have introduced a bipartisan, bicameral bill improving Opportunity Zones, a program that creates an incentive for individuals who reinvest unrealized capital gains into high-impact projects in rural and underserved communities. As communities across the country have begun to see investments take hold, Kind, Booker, Scott, and Kelly are proposing a series of improvements to the program.
"Opportunity Zones are bringing capital to communities in rural and underserved areas and investing in our local economies," said Rep. Ron Kind. "In order to ensure this program is used as it was intended, we need strong transparency and accountability measures in place. I'm proud to help introduce this bipartisan, bicameral legislation to maximize the potential of Opportunity Zones, improve safeguards, and drive economic growth across the country."
Also co-sponsoring the legislation, called the Opportunity Zones Transparency, Extension, and Improvement Act, are Senators Mark Warner (D-VA), Chris Van Hollen (D-MD), and Todd Young (R-IN) and Representatives Terri Sewell (D-AL-07), Dan Kildee (D-MI-05), and Jackie Walorski (R-IN-02).
"Locally, Opportunity Zones have brought in new investment and helped increase critically-needed local housing supply. This bipartisan legislation will strengthen and improve the Opportunity Zones program so its benefits can be more fully realized and we thank Rep. Kind for championing this important initiative,” said Eau Claire Area Chamber of Commerce Vice President Governmental Affairs Scott Rogers.
Among the key provisions of the bill are: Reinstating and expanding the reporting requirements that were present in the Investing in Opportunity Act (IIOA), the original stand-alone legislation that created Opportunity Zones; Ending Opportunity Zones that are not impoverished; Creating pathways for smaller-dollar impact investments; Providing operating support and technical assistance to high-poverty and underserved communities; and extending the tax incentive for two years in order to facilitate continued investment.
More information:
Bill text (US Senate)
Opportunity Zones overview (Milken Institute)
Kind, Booker, Scott, Kelly Introduce Bipartisan, Bicameral Bill Improving Opportunity Zones (Office of Rep Ron Kind)
New Legislation Would Extend and Improve Opportunity Zones (OpportunityDb)
Wisconsin's unemployment rate drops to 2.8%
The state's unemployment rate dropped to a record low 2.8 percent in March, remaining below the national average of 3.6 percent. That comes with a record high number of workers employed in the state of 3.1 million, according to Dennis Winters, Chief Economist at the Wisconsin Department of Workforce Development (DWD). The number of unemployed people at 88,500 is just 200 more than the record low in May 1999.
"So on the labor force, everything is looking good for all the right reasons," Winters said. "That being employment up, unemployment is down and the unemployment rate is reflecting that."
Winters said the number of nonfarm jobs in the state has reached 98 percent of the pre-pandemic level, while the state's GDP has exceeded pre-pandemic levels.
"We're still that many jobs down, but our productivity has gained," he said. "So we've got a higher GDP based on fewer jobs."
More information:
BLS Data: Wisconsin's Unemployment Rate in March Reaches Record Low 2.8 Percent (DWD)
Video and story: DWD Briefing on March 2022 Labor Market Data (Wisconsin Eye)
US Chamber: Action needed on regulations, tariffs,
energy to fight inflation
After last week's report that the Consumer Price Index (CPI) jumped last month to a rate 8.5% above last year, Neil Bradley, Executive Vice President and Chief Policy Officer at the U.S. Chamber of Commerce, said the government must focus on easing regulations, reducing tariffs, and increasing domestic energy production.
“New data out today shows what Americans already know: inflation continues to chip away at their buying power and impact the larger workforce. Rising costs in housing, food, and energy are making it difficult for American families and businesses to get ahead, and while monetary policy remains the best tool to fight inflation, policymakers should also be focusing on easing regulations, reducing tariffs, and increasing domestic energy production."
Bradley pointed out that inflation is the result of supply and demand.
"To shift the blame to businesses is misguided and only increases the likelihood that the real causes of inflation will not be addressed."
More information:
Consumer Price Index Summary (Bureau of Labor Statistics)
US inflation jumped 8.5% in past year, highest since 1981 (AP)
Consumer prices rose 8.5% in March, slightly hotter than expected and the highest since 1981(CNBC)
U.S. Chamber Urges Focus on Easing Regulations, Reducing Tariffs, and Increasing Domestic Energy Production to Combat Historic Inflation (US Chamber of Commerce)
More national news:
High inflation has homebuyers relocating to more affordable areas in record numbers (Fox Business)
The New Voting Restrictions Aren’t as Restrictive as Many Think (Sarah Isgur, Politico)
U.S. lawmakers look for path ahead on billions in restaurant, small business aid (Wisconsin Examiner)
Small Businesses Object to Rerouting of Covid-19 Aid (Wall Street Journal $)
Why the infrastructure law is transformative — and why it isn’t (Politico)
Disney Faces Backlash in Florida Amid ‘Don’t Say Gay’ Controversy (Wall Street Journal $)
Food for thought:
Why the past 10 years of American life have been uniquely stupid (Jonathan Haidt, The Atlantic)
COVID-19 Updates
It’s not over: COVID-19 cases are on the rise again in US (AP)
Mask mandate aboard planes, trains and buses in the US extended until May 3 (CNN)
No plans to reinstate local mask mandate at this time, Dane County health officials say (Channel 3000)
COVID-19 Resources:
COVID-19 Symptoms & Testing (EC City-County Health Department)
Local COVID-19 Testing Sites (EC City-County Health Department)
Interactive COVID Data Tracker (CDC)
COVID-19: Staying Safe in Your Community (EC City-County Health Dept.)
Eau Claire County COVID-19 Information Hub
Eau Claire weekly COVID Situation Report
Eau Claire County COVID-19 Vaccination Page
Metrics Dashboard
Chippewa Valley COVID-19 Economic Recovery Task Force
Mark your calendar:
Eggs & Issues: "State of Altoona"
• Thursday, April 21, River Prairie Center
Chamber Reception: New City Manager Stephanie Hirsch
• Thursday, April 21, Chamber Offices
Eggs & Issues: Child Care Challenges
• Friday, May 20, Pablo Center or live stream on Perigon
Eggs & Issues: Energy Issues
• Friday, June 17, Pablo Center or live stream on Perigon
"Eau What A Night:" The Chamber's 108th Annual Meeting
• Wednesday, January 25, 2023, Pablo Center
29th Annual Chippewa Valley Rally
• Wednesday, February 22, 2023, Madison
Next up on the public calendar:
Wisconsin Political Calendar (WisPolitics.com)
Partisan Primary
US Senate (Tammy Baldwin seat), Congress, State Senate (odd # districts) Assembly, Governor , Attorney General, State Treasurer, Secretary of State, County Sherriff, County Clerk of Court
• Wed, Jun 1, Filing deadline for primary (Wisconsin Elections Commission)
• Tuesday, Aug 9, Primary Election
Congressional & Legislative Maps
Wisconsin Congressional Maps (Dave's Redistricting)
Wisconsin Legislative District Maps (Wisconsin Legislature)
General Election
• Tuesday, November 8
City of Altoona City calendar (with links to agendas)
Meeting and video links
Mayor and City Council Members
• Tuesday, Apr 19, 6 p.m. City Council
• Wednesday, Apr 20, 9 a.m. Public Library Board
• Thursday, April 28 6 p.m. City Council Meeting
City of Eau Claire Full calendar
City Council Members (City of Eau Claire)
Link to video recordings of city meetings (City of Eau Claire)
• Monday, Apr 18, Plan Commission - Canceled
• Tuesday, Apr 19, 4 p.m. City Council Organizational Meeting
• Wednesday, Apr 20, Redevelopment Authority - Canceled
• Wednesday, Apr 20, 3:30 p.m. Sustainability Advisory Committee
• Wednesday, Apr 20, 6 p.m. Transit Commission
• Monday, April 25, 7 p.m. City Council Public Hearing
• Tuesday, April 26, 4 p.m. City Council Legislative Session
• Monday, May 2, 4:30 p.m. Landmarks Commission
• Monday, May 2, 7 p.m. Plan Commission
City of Augusta
City website
Village of Fall Creek
Village Board
Town of Washington
Town website
Altoona School District
Altoona School Board
• Monday, Apr 25, 6:30 p.m.
Eau Claire Area School District
Board of Education
• Monday, Apr 18, 7 p.m.
Augusta School District
Augusta School Board
Fall Creek School District
School Board
Chippewa Valley Technical College
District Board
Eau Claire County Full calendar
County Board District Maps
County Board District Representative
Link to recordings of past meetings
• Monday, Apr 18, 1 p.m. Land Conservation Committee
• Monday, Apr 18, 5 p.m. Housing Authority Board
• Monday, Apr 18, 6 p.m. Public Hearing-Chippewa Valley Regional Airport Commission
• Tuesday, Apr 19, 7 p.m. County Board of Supervisors
• Wednesday, Apr 20 p.m. CJCC Full Council
• Wednesday, Apr 20, 7:30 p.m. Chippewa Valley Regional Airport Commission
• Monday, April 25, Human Services Monthly Board Meeting
• Tuesday, April 26, 7 p.m. Committee on Planning & Development
Thanks for reading this issue of Business Advocate. If you have comments or questions, contact Scott Rogers, Vice President Governmental Affairs, at 715-858-0616 or rogers@eauclairechamber.org