The Michigan Senate this week approved a plan from state Senator Aric Nesbitt to cut both personal and business taxes while providing families a $500 per child tax credit, but it doesn’t look like the bill has the backing of the governor. Nesbitt tells WSJM News that’s a shame.
“It’s really unfortunate that the governor seems set on providing special tax handouts, whether it’s to corporations or whether it’s to certain government employees who are retired, or whether it’s to people that buy electric cars.”
Nesbitt says the bill would reduce the business income tax to 3.9% and the personal income tax to 3.9%.
“Let’s take a family of four making $50,000 a year, they would save approximately $1,200 annually.”
Governor Gretchen Whitmer says Nesbitt’s plan depends on one-time federal funding. He says it’s all state revenues made possible by a surplus. He’s hoping the state House takes up the bill.
