Deal assures cities not hurt by business tax cut

By: NewsCenter 16 Email
By: NewsCenter 16 Email

LANSING, Mich. Michigan lawmakers this week will propose a deal to guarantee that local governments lose little to no revenue from a planned phase-out of taxes on industrial machinery and small businesses' equipment.

The business tax cuts were enacted by Gov. Rick Snyder and legislators at the end of 2012. But they will be halted if a statewide vote fails in August.

An agreement reached among Snyder's administration, business interests and local officials would make sure municipalities opposing a loss in revenue are mostly kept whole.

It would all but ensure that the ballot proposal faces no organized opposition.

The business community has complained for years that Michigan's tax applied to machines, equipment and other items discourages business investment, is a compliance headache and is unique in the Great Lakes region.


WNDU - Channel 16 54516 State Road 933 South Bend, IN 46637 Front Desk: 574-284-3000 Newsroom: 574-284-3016 Email: newscenter16@wndu.com
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 246758921 - wndu.com/a?a=246758921