State House Approves Tax Cut Package

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taxes-safe-4-5

From the Associated Press — Republicans who control the Michigan Legislature have agreed on a plan to cut taxes, advancing a bill that will be vetoed because there is no deal with Democratic Governor Gretchen Whitmer. The House voted 62-42 Tuesday to cut the state income tax from 4.25% to 3.9%, lower the age to exempt income from taxation to 62 and create a $500 per-child tax credit. The Senate will concur with House changes soon. Whitmer has proposed a more targeted plan to fully restore an earned income tax credit for lower-income workers and gradually reverse a 2012 law that eliminated pension tax exemptions.