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Grassroots group says bill will make Michigan truly competitive
LANSING, Mich. — The grassroots group Americans for Prosperity-Michigan (AFP-MI) applauded lawmakers on the Senate Finance Committee for pursuing an estimated $2 billion in tax cuts today.
Sponsored by Senator Aric Nesbitt (R-Lawton), SB 768 would reduce both the corporate and individual income tax rates to 3.9%. Those rates stand at 6% and 4.25% respectively today. It would also institute a $500-per-child tax credit.
AFP-MI state director Annie Patnaude had this to say:
“It’s encouraging to see the Senate take up real reforms that will truly make our state more competitive for businesses, and more friendly to families.
“Over the past few months, we’ve repeatedly heard that the government needs to spend more to make our state a great place to live and work, but we know that’s not true. Senator Nesbitt and his colleagues on the committee have zeroed in on the best way to spur innovation and unleash the potential of Michiganders. We look forward to seeing this bill make its way through the House and onto Governor Whitmer’s desk.”