On August 5th, Michigan voters will head to the polls to select who goes on to represent each party in November’s general election. They’ll also be asked to vote on Proposal 1, which is the first step in what has been a long-fought effort to reform the state’s Personal Property Tax.
Automatic cuts to the federal budget, known as sequestration, went into effect last week. If the initial round of $85 billion in cuts to the military and domestic discretionary spending are not averted, the cuts will resonate throughout the nation's economy, including in Michigan.
Governor Rick Snyder and Lieutenant Governor Brian Calley want the Legislature to enact a major tax overhaul before its current session ends in two or three weeks. It would phase out Michigan’s tax on business and industrial equipment.