Michigan lawmakers to consider tax cut legislation
Wed, 12 Feb 2014 12:27:02 GMT —
Michigan lawmakers are considering tax cut measures a week after Gov. Rick Snyder called for tax relief of his own.
One legislative committee on Wednesday is scheduled to take testimony on bills to drop the state income tax. Another will consider legislation making more homeowners or renters eligible for a tax credit.
The Senate bill is similar but a bit different from a Homestead Property Tax Credit change included in the Republican governor's budget proposal.
While Snyder wants tax relief targeted to low- to moderate-income households, some Republicans want a bigger tax cut for more people.
Already pending in the GOP-led Senate is legislation lowering the income tax rate from 4.25 percent to 3.9 percent over time.