The Illinois Veto Session is scheduled for October 24-26 and November 7-9. Generally, veto session is reserved for the General Assembly to consider any vetoes issues by the Governor. In recent years, veto session has been used to advance any type of legislation. This year’s veto session is lining up to be an active session for both vetoes and general matters.

MHA expects some discussion on the following issues:

Modular Nuclear Reactors—Senate Bill 76 removes the moratorium on new construction of nuclear power plants to allow for the construction of both advanced and traditional large-scale nuclear reactors in Illinois.

Read the full article here.

The state of Wisconsin has recorded the highest state surplus and rainy day fund balance in state history, according to the latest Annual Fiscal Report released this month by the state Department of Administration (DOA). The state ended its 2023 fiscal year (June 30, 2023) with a positive balance of $7.07 billion and a record-high rainy day fund (also known as the Budget Stabilization Fund) balance of $1.8 billion. This should be welcome news for state taxpayers and means that the state is well-positioned to weather any future economic downturns, while investing in important priorities.

The DOA State Controller's Office publishes the Annual Fiscal Report (AFR) each year as required by state statutes. The AFR is a report of actual financial data for the fiscal year. The rainy day fund is a savings account that the state can use to cover budget shortfalls during economic downturns. This fund is currently at its highest level ever representing more than 10 percent of the state's overall general fund tax collections.

A substantial state surplus and rainy day fund balance has a number of benefits, including: 1) It provides a cushion against economic downturns. When the economy slows down and tax revenues decline the state can use its reserves to offset budget shortfalls and avoid cuts to essential services; 2) It allows the state to invest in long-term priorities for its citizens. When the state has a healthy financial position it can afford to invest in important areas such as education, transportation infrastructure, and other areas that will benefit the state for years to come; and 3) It provides more flexibility in making budget decisions. When the state has a large surplus it can afford to provide tax relief, increase spending on important programs, or pay down debt.

The record-high surplus to date is due to a number of factors, including strong economic growth, federal stimulus funding, and higher-than-expected tax revenues. The state has also been conservative in its spending which has contributed to building up its reserves. Some of this is due in part to a split state government in the state where the Republican-controlled Legislature has a different vision from the Evers administration over how to utilize these additional state resources. Legislative Republicans want the bulk of the extra money to be used towards major income tax relief, while Democrats prefer to boost funding in areas such as K-12 education, child care and housing infrastructure, while also providing tax relief for middle to lower income earners.

Needless to say, the state's strong financial position has given both Governor Evers and the Legislature more flexibility in making budget decisions rather than having to make budget cuts. The most significant challenge facing the state at present is that neither side appears to be willing to work with the other to reach a compromise on how to best allocate the additional resources. Governor Evers recently proposed a comprehensive workforce plan that would use the state’s surplus to specifically invest in stabilizing the child care industry, expand paid family leave, and support higher education for training, retention and recruiting efforts for the state’s workforce. Republicans subsequently unveiled their own plan that would reduce income tax rates, increase the child and dependent care tax credit, raise the private school tuition deduction, and streamline the regulatory process for obtaining a license for health and business professionals, just to name a few.

Other noteworthy items from the AFR report include:

• The state’s undesignated general fund balance at the end of Fiscal Year (FY) 2023 was $7.1 billion, nearly 65 percent higher than the prior year’s balance of $4.3 billion, and more than 12 times larger than the balance at the end of FY 2018.
• The current Budget Stabilization Fund balance was maintained at $1.8 billion, the largest in the state’s history and more than five times larger than the balance at the end of FY 2018.
• State general fund tax collections in FY 2023 increased by 2.1 percent over the prior year and were very close to the most recent estimates projected on May 15, 2023.

For a glance at the 2023 Annual Fiscal Report, click here.

Overall, Wisconsin's strong financial position is good news for the state's long-term economic health even in the midst of ongoing challenging economic conditions facing industry.

As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy.

Read the full article here.

As the Managing Director of our esteemed association, I am reaching out to our valued community to address a pressing matter. Over the past year, we've heard concerns from members about the association's performance and effectiveness. We take these concerns seriously, and we're committed to making a positive change. To do this, we need your help.

Our association is only as strong as the people who drive it forward. That's why we are actively seeking passionate and dedicated individuals from Wisconsin and Illinois to join our Board of Directors. This is an opportunity for you to play a pivotal role in reshaping the future of our organization.

Why Join Our Board?

1. Make a Difference: If you're frustrated with the current state of affairs, joining the board provides you with a platform to influence and enact meaningful change.
2. Shape the Future: As a board member, you will have the opportunity to shape the direction of our association, ensuring that it aligns with the evolving needs of the hardware industry.
3. Community Building: Become part of a dynamic, collaborative, and like-minded group of individuals who share your passion for hardware.
4. Professional Growth: Serving on the board offers unique leadership experience that can enhance your professional development and expand your network.
5. Voice for Good: We are looking for board members who will bring constructive ideas, innovative solutions, and a commitment to improving our association for the betterment of all members.

Who Are We Looking For?

We are seeking candidates who possess the following qualities:

1. Commitment: A sincere commitment to the mission and values of our association.
2. Innovation: A willingness to think outside the box and propose creative solutions to challenges.
3. Collaboration: The ability to work effectively with diverse individuals and contribute to a positive board dynamic.
4. Respectful Communication: The capacity to engage in constructive dialogue and maintain a positive, solutions-oriented attitude.

How to Apply

If you're ready to step up and be a part of our association's transformation, we encourage you to express interest to the Board of Director’s by emailing me at [email protected] by November 3.

Our association has a rich history, and we are determined to build an even brighter future. With your support and dedication, we can overcome the challenges we face and ensure that our organization remains at the forefront of the hardware industry.

Together, we can make a difference, drive positive change, and ensure a stronger, more vibrant future for our Hardware Association. Thank you for your continued support, and we look forward to welcoming new leaders who are ready to turn their voices into action.

We've got important news that you won't want to miss out on – a whopping $5.54 billion Visa/Mastercard Antitrust settlement is up for redistribution. If your hardware store accepted Visa or Mastercard branded cards between January 2004 and January 2019, you're eligible!

We've joined forces with DCap Claims, the seasoned experts in handling such claims. They take care of everything, from filing the claim on your behalf to liaising with the claims administrator to ensure you receive the maximum claim value. Numerous MHA members have already seized this opportunity for reimbursement, including Steve Burggraf, who registered his 13 Ace Hardware stores. Linda Johnson, owner of Village True Value, has also enrolled and encourages fellow store owners to follow suit.

This partnership is a golden opportunity for all our members. To delve deeper into the settlement details, please refer to the attached one-pager HERE.

Should you have any questions or require assistance with the straightforward filing process, our Regional Director at DCap, Megan Kuzma, is at your service. You can contact her via email at [email protected] or call her at 786-543-7234.

Don't let this chance slip through your fingers! Recover your rightful share from the Visa/Mastercard Antitrust settlement and ensure your hardware store benefits from this unique opportunity!

On August 1, 2023, U.S. Citizenship and Immigration Services (USCIS) published a revised Form I-9.  Employers may still use the prior version (Edition 10/21/19) of the Form through October 31, 2023, but starting November 1, 2023, employers will need to use the revised Form I-9 (Edition 08/01/23) and Instructions for Form I-9. The edition date can be found in the lower left corner of the Form and Instructions.

Employers are required to use Form I-9 to verify the identity and employment authorization of all individuals (citizens and noncitizens) hired for employment in the United States. The employee must attest to their employment authorization and present their employer with acceptable documents that show they are authorized for employment in the United States. 

Form I-9 Revisions

The Form has undergone some noticeable revisions. 

Read the full article here.

We are thrilled to announce an exciting partnership that is set to revolutionize the way you do business. Midwest Hardware Association is proud to introduce our collaboration with NewTekOne, a leading force in the realm of business solutions. This partnership is all about empowering our members and opening new doors for your hardware stores to thrive.

Why NewtekOne?

For over two decades, NewtekOne has been dedicated to helping business owners, just like you, succeed in today's competitive landscape. Their commitment to excellence and a proven track record make them the perfect ally for your business.

As a valued member of Midwest Hardware Association, you now have exclusive access to a suite of world-class business solutions offered by NewtekOne. These solutions encompass a broad range of services that cater to your unique needs. With NewtekOne, your hardware business will receive unparalleled support in the following key areas:

1. Business Lending: Access to financial resources is crucial for growth. NewtekOne offers tailored lending solutions to ensure that your business has the capital it needs to prosper.

2. Instant Merchant Accounts: Simplify your payment processing with efficient merchant account services that enable you to serve your customers seamlessly.

3. Managed Technology and Security: In the digital age, technology and security are paramount. NewtekOne provides the expertise to manage your tech infrastructure and safeguard your business from potential threats. Ask us about our COMPLIMENTRY CyberSecurity review!

4. Business and Personal Insurance: Protecting your assets and ensuring peace of mind is essential. NewtekOne works with 40+ highly rated insurance carriers to safeguard your business and personal interests.

What Sets NewtekOne Apart?

NewtekOne stands out in the industry for several reasons:

• Customizable Offerings: Their solutions are tailored to your specific needs. Your hardware store is unique, and NewtekOne understands that one size does not fit all. They will work with you to create a solution that aligns perfectly with your business goals.
• 24/7 White Glove Service: Business doesn't stop at 5 PM, and neither does NewtekOne. Their round-the-clock support ensures that your hardware store is never left wanting.
• Experience and Expertise: With a rich history of assisting businesses across industries, NewtekOne brings unparalleled expertise to the table. You can trust that your business is in capable hands.

How will we hear from NewtekOne?

You will receive emails and be able to access them on the MHA website under MyMHA. 

Building the Partnership!

We're excited to introduce you to NewtekOne and show you how their services can have a significant impact on your hardware store's success. By clicking HERE you can learn more about the comprehensive offerings, benefits, and resources that NewtekOne brings to our partnership.

This is a fantastic opportunity for our members to harness the full potential of your hardware business.

We are confident that this collaboration with NewtekOne will unlock new possibilities for growth and prosperity. Don't miss out on this chance to supercharge your business – let's embark on this exciting journey together!