Senate passes Gov. Snyder's tax reform plan. Does it help or hurt the people?
Thu, 12 May 2011 20:49:43 GMT — UPDATE: 2:45 p.m. Friday
Governor Rick Snyder says he's positive this plan will create more jobs.
The Associated Press reports that despite the governor's optimism, he ran into some skepticism Friday morning on Michigan Public Radio Network. The report states callers asked how many jobs this plan would create, but Snyder stated he couldn't provide an exact number.
UPDATE: 8:15 p.m. Thursday
The Michigan House sent a series of sweeping tax changes to Governor Snyder after the measure narrowly passed the Senate.
The broad plan would cut overall business taxes, eliminate some tax credits, and reduce tax breaks for retirees and low-income workers.
House Democrats spoke Thursday against the bill, criticizing it for helping businesses while foisting a tax increase on the middle-class.
The Republican House majority approved the bill 56-52.
It now goes to the governor for his signature.
Gov. Rick Snyder issued the following statement regarding legislative approval of the tax reform plan:
The Michigan Legislature made a powerful statement by passing these landmark reforms. We are making the tough decisions and taking the bold actions necessary to put our state on the path to prosperity. Michigan TMs complex, unwieldy and unfair tax structure has been a major impediment to economic growth. By bringing greater fairness and simplicity to the system, we are correcting longstanding inequities, protecting low-income families and paving the way for economic expansion."
Senate Majority Leader Randy Richardville and House Speaker Jase Bolger deserve our appreciation for acting in Michigan TMs best interests, as do committee chairmen Sen. Mark Jansen and Rep. Jud Gilbert and their colleagues who supported these critical improvements. They have done families and job providers a great service. We also owe Lt. Gov. Brian Calley a special thanks for his leadership. As a key architect of this proposal, Lt. Gov. Calley has been instrumental in seeing it through the entire process. We will continue working with our legislative partners to advance a pro-Michigan agenda that energizes the economy and enhances the overall quality of life for all families.
Governor Rick Snyder TMs tax reform plan, that cuts businesses taxes and raises income taxes for some, has passed.
The Associated Press reports the Senate voted in favor of the package 20 to 19.
The report states some Republicans and Democrats are against the bill, saying it comes at the expense of retirees who will have some of their income taxed and lower-income workers.
While some are worried about the impact, others feel it will help drive Michigan's economy by bringing in new business. Senate Appropriations Chair Roger Kahn, R-Saginaw Township, sent a release stating, | If we want to turn things around in our state, then we need a competitive business climate that attracts and retains job providers. I believe these changes to the state TMs tax structure provide hope for our future, our children and grandchildren...
The House will need to pass the bill before it can receive Governor Snyder TMs signature.