LANSING (WKZO AM/FM) — The Michigan Legislature has gotten back to work in Lansing.
They will hit the ground running this election year . The Governor wants the state’s tax law adjusted to neutralize the impact of federal tax reform on Michigan taxpayers as soon as possible.
A bill has just been introduced that will restore the personal tax exemption, which they claim has been left out of the Federal Tax Reform measure approved last month. Some dispute that interpretation.
Tax Policy Committee Chair Jim Tedder says he would be interested in using that money for an income tax rollback instead. He calls the $1.5-Billion ia rare wind fall and sees an opportunity
It would likely be vetoed by the Governor if they tried it.
Gilda Jacobs at the League for Public Policy says an income tax rollback is not the way to go. It’s a regressive tax that helps the rich more than it helps the poor.
Congressman Paul Mitchell says the state doesn’t need a fix…that the federal tax reform measure does not interfere with state’s tax collection and there will be no $1.5-billion windfall to give away in a tax break.
