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Mon April 1, 2013
Michigan's governor doesn't think the state should repeal new tax on pensions
Governor Rick Snyder is cool to a proposal to roll back Michigan’s new pension tax.
The pension tax was part of a package enacted in 2011 that eliminated the Michigan Business Tax.
A group of five Republican state senators wants to repeal the pension tax and reinstate some homestead property tax credits.
Governor Snyder says the tax on pensions is just a matter of fairness, so that the tax burden falls equally. The governor insists the tax that pensioners are now paying is not too much ask.
“I heard from a number of accountants who said people were dealing with it,” Snyder told reporters on Friday, “And once they understood why…they were going along and accepting it.”
The governor is facing calls from both sides of the aisle to repeal the pension tax.
Democratic lawmakers have also introduced legislation to repeal it.