Michigan House approves multi-billion dollar tax cut
Michigan House lawmakers approved a 1.5 billion dollar spending bill today.
The legislation would create grants to help local governments sure up their pension systems.
“This is a positive and proactive solution that helps secure people’s retirements, prevent taxpayers having to bail out municipalities and make sure our children and grandchildren aren’t footing the bill for failed systems in future years.” said Republican state Representative Thomas Albert.
Democrats are taking issue with conditions placed on local governments to receive the money—calling them “poison pills.” Those include a ten-year ban on changing pension benefits.
The state House also passed legislation cutting the state’s income tax rate to below 4%. Both bills now head to the Senate.