State Income Tax Rollback Bill to be Introduced in Lansing

LANSING, MI (WHTC) – A proposal to roll back Michigan’s income tax rate from 4.25 percent to four percent even by October of 2016 should be introduced in the state House this week. The Lower Chamber’s Financial Liability Reform Committee Chairman Pat Somerville of New Boston is sponsoring the bill that was part of the House GOP Caucus’ agenda for this legislative session. The rate had been hiked eight years ago to 4.35 percent in order to balance the budget, but slid down a tenth in 2011.