Republicans in Lansing say they want to make quick work of fixing a glitch in the new federal tax law. The issue is making sure Michiganders don’t pay more on their state income taxes.
The federal tax overhaul has created an issue with the personal exemption that could cost Michigan taxpayers more than a (b) billion dollars in total.
Republican Arlan Meekhof is the state Senate Majority Leader. He says Republicans and Democrats are in agreement something needs to be done.
“I would think it would be hard to vote against that.”
Republican Jack Brandenburg (BRAN’-den-berg) chairs the Senate Finance Committee. The committee approved bills today (Tue.) to make sure Michigan taxpayers can continue to claim the personal exemption that was zeroed out in the federal tax law. He says Michigan taxes should also be cut.
“President Trump went big and bold in his tax relief for American families, and it is time we do the same for faState Representative Jim Tedder chairs the House Tax Policy Committee.
“And so while times are good, I think it’s time that we re-affirm that we return some of that money back to the taxpayers, where it’s best spent.”
The House plan also includes a new state income tax credit for seniors. Republicans say the loss in revenue can be covered by leftover money from the current budget year.
Governor Rick Snyder’s budget officials say they’re concerned the Legislature may be promising more in tax cuts than the state can deliver in coming years. milies here in Michigan.”