Wisconsin businesses expressed relief following the defeat of democratic socialist candidate Francesca Hong in the Democratic gubernatorial primary, according to Kurt Bauer, CEO and president of Wisconsin Manufacturers & Commerce (WMC) [1]. Bauer stated that the state 'dodged a bullet' by rejecting Hong's high-tax policies, referencing historical failures of socialism and emphasizing concerns about its potential impact on Wisconsin's economy [1]. Hong, a state lawmaker from Madison and member of the Democratic Socialists of America (DSA), lost to Milwaukee County Executive David Crowley by a narrow margin, despite polling that had previously shown her with a significant lead [1]. Crowley was supported by retiring Democratic Governor Tony Evers, who warned that nominating Hong could jeopardize Democratic control of the governor's mansion in November [1].
The primary was viewed as a high-stakes test for the Democratic Party in Wisconsin, a perennial swing state, with business leaders closely monitoring whether the party would favor its progressive wing or establishment candidates ahead of the general election [1]. Bauer noted that while Crowley may be slightly better on some issues, he still represents concerns for the business community regarding taxes, healthcare, and other major issues [1].
According to WMC's Winter 2026 survey of 200 business leaders, 71% of Wisconsin businesses reported an increase in property tax bills for their commercial properties over the past year, while only 1% saw a decrease [1]. Nearly half of survey respondents indicated that President Donald Trump's tariffs had a negative impact on their business, with 12% reporting a positive impact [1]. Despite some optimism, such as increased hiring and a relatively good outlook for the U.S. economy, Wisconsin employers remain frustrated with high healthcare costs and difficulties in finding capable employees [1].
Crowley's campaign responded to Bauer's comments by highlighting that major corporations have brought investments under Crowley's leadership, though the full statement was not provided in the article [1].
CONCLUSION
Wisconsin businesses are cautiously optimistic following the primary outcome, relieved that high-tax policies were rejected but still wary of ongoing concerns related to taxes, healthcare, and workforce challenges. The election results signal a preference for moderate Democratic leadership, though business leaders remain vigilant about policy impacts. The market takeaway is a tempered optimism with persistent underlying concerns.