LANSING, Mich. (AP) — Gov. Rick Snyder still has concerns about the fiscal implications of an income tax cut after House Republicans revised their legislation.
The Republican governor issued a statement Tuesday night saying he appreciates that House leaders took seriously his concerns. But he says he still has “a billion dollars’ worth of concerns because there has been no plan presented as to how this will affect residents and their communities statewide.”
Snyder notes that reducing the 4.25 percent income tax to 3.9 percent over four years would reduce revenues by $500 million in 2019 and more than $1 billion by 2022 — years when more money will be spent to improve roads and bridges.
House Republicans on Tuesday decided to phase in the tax cut over four years instead of implementing it one year. They also dropped their push to eliminate the tax over decades.
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I find it interesting that it always comes down to roads and bridges…Typical politician that doesn’t want to give up their play money that is used for special interests.