Mich. Lawmakers To Consider Tax Cut Legislation - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Mich. Lawmakers To Consider Tax Cut Legislation

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LANSING, Mich. (AP) - A tax-writing committee in Lansing has debated legislation to drop Michigan's income tax rate from 4.25 percent to 4.05 percent by 2016.

The Republican-backed bills would lower the rate another tenth of a percentage point starting in 2017 and future years if tax revenue increases by a minimum amount. The rate couldn't be reduced for two straight years.

Some House Republicans said Wednesday it's a pragmatic approach to giving a surplus back to taxpayers as the economy improves. Democrats counter that cutting taxes won't help Michigan improve bad roads and educate kids.

Later Wednesday, a Senate committee will consider legislation making more homeowners or renters eligible for a tax credit. It's similar but a bit different from a tax cut included in Gov. Rick Snyder's budget proposal.

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