Michigan road funding plan will likely cost Michigan residents about $5 a month, Gov. Rick Snyder estimates


By: Associated Press

(Source: https://goo.gl/gQxaGW License: https://goo.gl/sZ7V7x)

LANSING, Mich. (AP) — Republicans call it a monumental plan that will finally patch deteriorating roads and make transportation funding a long-term budget priority after years of neglect.

Democrats say the legislation that Gov. Rick Snyder will sign is a sham that puts at risk other government services and, despite raising taxes and fees, does not pump enough money into infrastructure for five years.

But what does it mean for you and your pocketbook? The GOP governor estimates it will cost $60 a year on average per driver to start, or $5 a month.

Those qualifying for an expanded tax credit for homeowners and renters could see a net tax cut under the bills approved by GOP lawmakers. Income tax cuts for all also might be triggered in 2023 and after.