Why not do away with all minimum markup laws?

As outlined yesterday, we support Governor Tony Evers plan to raise money to pay for road repairs. The Governor wants to raise the gas tax by 8 cents a gallon, while repealing the state’s minimum markup law for gasoline. That could actually lower prices at the pump, while raising much needed money for much needed road repairs. As expected, the Governor’s plan is facing opposition from the Republican-controlled legislature, but also from his own party. Senate Minority Leader Jennifer Shilling of La Crosse isn’t cozying up to the plan. She so far has refused to say if she would support repealing the minimum markup law. But it seems it is time for minimum markup to go. The laws were originally designed to protect mom and pop shops from big retailers who could sharply undercut smaller businesses on prices. But there is little evidence that would happen. Minimum markup laws only serve to artificially inflate prices. If gasoline retailers want to sell gasoline below their cost, why shouldn’t they be able. It would certainly be good for consumers. Wisconsin should go all-in, and repeal all of the state’s minimum markup laws, not just those for gasoline. Isn’t that what a free market is all about?