The National Association of
Manufacturers has a wish list. So do trade groups for small
business, money managers and energy companies.
From drilling for oil in
Alaska to policies on stem-cell research, President Bush's
re-election helps define the agenda for industry. Companies are
hoping for a limit on lawsuits, greater tax breaks and less
regulation.
"President Bush understands
that the cost of complying with regulations is like a hidden tax on
every small business," said Bill G. Smith, Wisconsin director of the
National Federation of Independent Business, a leading
small-business group.
Tort reform, a permanent tax
break for capital investment and incentives for more domestic energy
production are at the top of the National Association of
Manufacturers' list, spokesman Darren McKinney said.
While manufacturing is
important in Wisconsin, the state's growing biotechnology sector
faces a challenge from the election after voters in California
approved a $3 billion state bond issue to fund biotech companies.
"Many of the Wisconsin
researchers who were responsible for many of the breakthroughs in
stem cells may be sought to be lured away," said Ron Kuehn,
executive vice president of the Wisconsin Biotechnology and Medical
Device Association, a lobbying organization in Madison.
Should Bush maintain the
current federal funding restrictions on stem-cell work, the
California initiative could become increasingly important as a major
source of cash for this research.
Wisconsin officials are
considering a response, which might include additional public and
private financial backing for stem-cell research, said Tom Still,
president of the Wisconsin Technology Council.
"If other states are willing
to dig deeper into debt to finance $3 billion in investment, it
behooves us to better appreciate what we already have here," Still
said.
At the federal level,
dealing with the fiscal challenges posed by Medicare and Social
Security will be "the 1,600-pound gorilla" of the next four years,
said Jay Mueller, economist for Strong Capital Management in
Menomonee Falls. "There is no easy way to fix it. If this president
can tackle both tax reform and entitlement reform in one term, it
will be miraculous."
Smith looks for another push
to enact legislation allowing organizations such as his
small-business group to sponsor health insurance programs that would
give small businesses more purchasing options and cut costs.
On Social Security, Bush has
said he favors letting younger workers put some of their taxes into
private accounts.
"Conceptually, this is going
to be good," said Maureen Busby Oster, president of MBO Cleary
Advisors in Milwaukee. "The logistics of figuring out how to make it
work are going to be challenging."
The new accounts would be a
boon to banks and investment companies that would manage the money,
but "even with a sympathetic Congress, it is going to be very, very,
very difficult," to accomplish, said Mueller.
Already on Wednesday, forces
were gathering to oppose private accounts.
The insurance industry is
pushing for reform on three issues: class-action lawsuits, asbestos
lawsuits and a cap on "pain and suffering" awards in medical
liability suits, said Joseph Annotti, spokesman for the Property
Casualty Insurers Association of America.
Insurers want to end
so-called "venue shopping" by law firms that file their class
actions in counties where judges repeatedly are found to be
receptive.
A second Bush term also
means banks may be able to advance a proposal that would exempt
national banks from laws enacted by states and local governments. In
recent years, states and communities have tried to enforce localized
laws on issues such as ATM fees and predatory lending.
"It's an important safeguard
to keep them from having to abide by a patchwork of regulatory
requirements," said Kurt Bauer, chief executive of the Wisconsin
Bankers Association.
Prospects for expanded oil
and natural gas production are enhanced in a second Bush term,
analysts say.
"This means the possibility
of a broader energy plan mandate," said George Gaspar, an energy
analyst at Robert W. Baird & Co. in Milwaukee who has called for a
fresh look at drilling for oil in Alaska.
Congress has traditionally
been split by region rather than by party when it comes to energy
policy - and the result has been that no comprehensive energy bill
has passed since 1992, analysts say. But some think Bush's
re-election could boost chances for an energy bill.
And Bush's win likely will
mean less emphasis on energy efficiency and developing electricity
from renewable sources, said Charlie Higley, executive director of
the Wisconsin Citizens' Utility Board.
Because Bush's second
administration should be more geared toward leaving a legacy,
Jessica Ollenburg, chief executive officer of HRS Human Resource
Services Inc. in Greenfield, said she expects better conditions for
employers.
Bush has campaigned for more
paid time off and other options as an alternative to overtime.
"I think the message is that
the unionized companies need to be more flexible," said Randall Mehl,
managing director in charge of the human capital services group at
Robert W. Baird & Co.
By AVRUM D. LANK
alank@journalsentinel.com
Thomas Content, Joel Dresang, Jason Gertzen,
Paul Gores and Rick Romell
of the Journal Sentinel staff contributed to
this report.
