Created by Governor Tony Earl in Executive Order 47 on March 12, 1984, the commission included members of the public and private sectors and was directed to study and report on the prospects for private and government initiatives to strengthen the longterm Wisconsin economy. Specifically, the commission was to study: (1) the status of the Wisconsin economy, (2) the prospects for individual sectors of that economy, (3) Wisconsin's role in world markets, (4) the state's role in strengthening the economy, (5) the business decisions most important to the future of the state's economy, (6) the economic position of the state vis-a-vis other states, and (7) the effect of existing state taxing and spending policies on the future economy.
The commission issued several reports and submitted an income tax reform proposal to the 1985 legislature and a final report to the governor.