State Senator proposes income tax rollback
LANSING, MI –
A new proposal at the state Capitol would reduce the state's income tax rate over the next few years. As Michigan Public Radio's Laura Weber tells us, a Republican state lawmaker says he wants to make good on a promise made to people in Michigan.
Republican state Senator Jack Brandenburg says Michigan taxpayers were promised a reduction in the income tax rate as part of a deal that included an increase in the Michigan Business Tax. The business tax was repealed as part of Governor Rick Snyder's tax overhaul, but Brandenburg says he still wants to reduce the income tax.
"I think a promise is a promise," he says. "I really do."
Brandenburg says the estimated multi-million dollar budget surplus convinced him it's time to move forward with an income tax rollback. Other Republican leaders say they're cautiously supportive of the plan, but want to make sure the state can afford the revenue loss.
Democrats want to make sure surplus revenue is used to restore cuts to education.