House Republicans in Lansing have a plan to give you an income tax break — and eventually to end the tax.
State Rep. Lee Chatfield (R-Levering) introduced a measure last week that would cut the rate from 4.25 percent to 3.9 percent in 2018. The legislation would then reduce the income tax yearly by .1 percent until it was eliminated.
“I think this is a very fair tax reform that impacts every family,” Chatfield told IPR News Radio. “It provides yet another opportunity for our families to move back here to Michigan, begin working [and] keep more of their hard-earned dollars.”
Chatfield spoke with IPR News Radio about his tax plan:
Revenue from the income tax made up about one-third of the state’s total revenue in 2015 – around $9 billion, according to the State Budget Office.