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Fri May 11, 2012
In this morning's Michigan news headlines...
Senate Passes Industrial Tax Phase Out
The state Senate voted yesterday to phase out a tax on most industrial and business property in Michigan. "The tax is a big revenue generator for school districts and local governments. Senate Republicans amended their original plan so it now provides some assurances it won’t force big cuts to education and other services. State Senate Majority Leader Randy Richardville says the tax on industrial equipment, in particular, is so unique it drives investment elsewhere. Democrats say the rollback is part of a pattern in Lansing of shifting the tax burden from businesses to individuals," Rick Pluta reports.
Bing Appoints a Detroit CFO
Jack Martin has been appointed chief financial officer in Detroit. Sarah Hulett reports:
The CFO is one of two key positions in the effort to turnaround the city's troubled finances. Martin served as CFO of the U.S. Department of Education several years ago, and in January he was picked to be the state-appointed emergency manager of Highland Park schools. The Detroit native says he also helped turn around Washington D.C.'s municipal finances. Martin will work alongside a still-unnamed program management director, and a financial advisory board. He starts the job on Monday with a yearly salary of $220,000.
Snyder Talks Bridge in Canada
Governor Snyder visited Windsor, Ontario yesterday to discuss plans with Canadian officials for another bridge across the Detroit River. Ken Silfven, a spokesman for the Governor says the administration, “remains committed to a Canadian-U.S. collaboration to build a span to supplement the privately owned Ambassador Bridge between Detroit and Windsor. The Windsor Star reports that U.S. Ambassador to Canada David Jacobson also attended the meeting. Ambassador Bridge owner Manuel "Matty" Moroun has been fiercely battling the proposal with ads and lobbying. He seeks to add a span to his own bridge instead,” the Associated Press reports.