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Mon May 14, 2012
Calley: Individual Tax Cut Could Be Part of Business Tax Rollback
An election year tax cut could be in the offing for individual filers in Michigan. State House Republican leaders say they want to bring that into the discussions on phasing out a tax on industrial equipment.
Democrats in Lansing have hammered Republicans with the complaint that tax reforms enacted over the past year and a half have all been directed at helping businesses, while many of the exemptions and deductions enjoyed by individual filers have been scrapped.
Lieutenant Governor Brian Calley says a tax rollback for individuals and families has not yet been put on the table, but he and Governor Rick Snyder are open to the idea if that’s what the Legislature’s GOP leadership wants.
“I am reminded often that the Legislature is a co-equal branch of government to the executive,” Calley says.
Calley says he hopes a debate over reducing the income tax or some other tax cut for individuals does not slow down a tax rollback that would encourage more investment in manufacturing in Michigan.