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Time for the Guv to morph into Chris Christie (6/28/2011)

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• Jobs: Perhaps no pledge will more define Walker’s first term than his promise to create 250,000 new jobs and 10,000 new businesses by 2015. Walker will likely get a boost just from the economy’s expected rebound from the “Great Recession.”

The state reported almost 2.8 million jobs in September, the latest numbers available, with 235,600 unemployed, according to seasonally adjusted numbers. Walker should get a helping hand in achieving his jobs goal just from the already expected recovery from the recession. The Department of Revenue has projected the state will recover the 180,000 jobs it lost during the recession by mid-2013.

While creating jobs will be a key benchmark for the success of Walker’s first term, some believe he can miss his promise of 250,000 jobs so long as the economy is doing well come 2014 and he’s cut taxes and government spending.

• No new taxes, no raids: Conservatives, Walker included, like to mock Gov. Jim Doyle for pledging in one of his State of the State addresses that the state must not, cannot and will not raise taxes. Sticking to that pledge will be key for Walker, insiders say, along with cutting government spending without the fund raids that have helped balance past budgets.
• Repealing combined reporting: As part of his plan to boost the state’s business climate, Walker has pledged to repeal combined reporting for corporate taxes, which was expected to bring in some $187 million in additional revenue during the 2009-11 budget.

Considering the state’s looming budget deficit, some see this as one of those promises that Walker may have to phase in gradually so he can get a handle on the first budget, some $3 billion in the hole.

• In addition to promising a repeal of combined reporting, Walker wants to give companies that move into the state a two-year break from having to pay the state’s corporate tax. He’s also indicated his support for repealing the corporate tax altogether.

Declaring a jobs emergency: Walker said his first act as guv will be to declare a jobs emergency in the state and present a package that cuts taxes for small businesses, eliminates the state tax on health savings accounts, curbs “frivolous” lawsuits and reforms the Department of Commerce into a “true economic development agency.”

Walker has been vague on some of the details on the small business tax cut, but has said it would apply to those employing 50 workers or less and would amount to a tax break of up to 20 percent.

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