Tuesday, July 22, 2008

Repeal the Minimum Mark-Up law

This is great news. Hopefully Governor Doyle will listen to Rep. Kramer and Rep. Vukmir and call a special session to repeal the minimum markup law. After all, it was deemed unconstitutional over a year ago.

Reps Kramer and Vukmir are asking Governor Doyle to call a special session of the Legislature to vote on a repeal of Wisconsin’s minimum markup law. The request comes after the United States Bureau of Labor Statistics released new data showing the Consumer Price Index increased 1.1% in June, an annual pace of 5%

Kramer, Vukmir and Sen. Carpenter introduced AB-820, the Competitive Marketplace Act, during the past session. The bill would, ”repeal the current price increase requirement and modernize Wisconsin’s statutes to reflect a century of anti-trust case law and experience from the Federal Trade Commission.”

According to a release from Kramer and Vukmir, “Enactment of AB-820 would allow consumers to take advantage of $4 prescription drug programs, ensure that fuel and food prices in the state are competitive and allow retailers to price their merchandise according to the market forces, not an arbitrary formula established by state government.”

A spokesperson from Rep. Kramer’s office said, “The legislation (AB-820) stands on its own merits. We think this legislation is the perfect fix, or at least the framework to start from.” Sen. Carpenter had not been contacted by Kramer or Vukmir’s office, but he said, “I support repealing the minimum markup laws and support calling a special legislative session to do the job. With the current out of control gas prices minimum markup laws are an unnecessary burden that we can’t afford. Whether by special session or in the upcoming legislative session I will continue to support repealing the minimum markup laws. We need relief at the pump and this is one way we could help.” in response to the press release and request for a special session.

The minimum markup law, passed in 1939, mandates retailers include a minimum price increase on gasoline, and prohibits the sale of goods below cost.

1939- and this stupid law is still on the books costing Wisconsinites millions and millions a year.

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