Dem lawmakers are circulating legislation that would require certain retailers to include tariff-related costs in sales receipts or invoices.
Sen. Brad Pfaff of Onalaska, along with Reps. Andrew Hysell of Sun Prairie, Mike Bare of Verona, Priscilla Prado of Milwaukee, Maureen McCarville of DeForest and Christian Phelps of Eau Claire, yesterday sent a cosponsorship memo to other lawmakers on LRB-4351/1, the Tariff Tax Transparency Act.
They argue “it seems like common sense” that taxpayers should know what taxes they’re paying, noting taxes on income, purchases and property are all communicated clearly.
“Yet, a torrent of tariffs emanating from Washington, D.C. are being hidden from Wisconsin consumers,” they wrote in the memo.
The lawmakers note Americans face an effective tariff rate of 18.6%, the highest it’s been since 1933. And they reference a Goldman Sachs analysis that 70% of tariffs will be borne by U.S. households, for a projected average cost of $2,400 this year.
“These hidden taxes, dubbed ‘sneakflation,’ are being further exacerbated by some domestic producers seizing the opportunity to raise their prices to match the new higher prices charged for foreign imports,” bill authors wrote.
Under the legislation, retailers that sold at least $3 million in consumer goods in the preceding calendar year would be required to provide a sales invoice or sales receipt to the customer that “clearly states the total cost of any tariff imposed” on the sale.
“Let us do the right thing for Wisconsin consumers,” bill authors wrote. “People deserve to know what taxes they are paying.”
The cosponsorship deadline is Sept. 12 at 5 p.m.
See the bill text.
