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Michigan looks to repeal “retirement tax”

On Tuesday, Michigan Governor Gretchen Whitmer celebrated the beginning of a four-year plan to repeal the state’s “Retirement Tax.”

Whitmer told seniors in the state that they’ll start to see at least some savings this year as the state begins the process of phasing out the tax. She also said that she intends to send refund checks to lower-income households that qualify for the Earned Income Tax Credit.

Bridge Michigan reports the exemption on retirement income reverses a policy change that was put into place in 2011. Michigan has recently made three major tax policy changes that will impact those filing personal income taxes by the April 15 deadline.

 

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