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Thu June 14, 2012
Michigan legislature sends tax reductions to Gov. Snyder
The Legislature has sent election-year tax reductions to Governor Rick Snyder for his approval.
The measures would accelerate a reduction in the state income tax rate, and increase the personal exemption. That’s after a tax rate rollback was delayed last year.
The House also approved a measure to continue rolling back income tax rates through 2018.
Democratic state Representative Vicki Barnett was one of just a handful of “no”’ votes.
She says the six-year rollback is poorly planned, and could force more cuts down the road to schools and public safety.
“The numbers don’t work. I’m a financial planner in my private life. I’ve looked at the numbers. The numbers don’t work. I would love to be able to return excess money to the taxpayer, but after we fund critical services to the level they should be funded at," said Barnett.
The Legislature begins its summer break today. The state Senate could take up the six-year rollback later this year.