Another tax incentive for Michigan businesses passed the state Senate Wednesday and is on its way to the House.
Tax cuts, be they for businesses or individuals, have been a hot topic in Lansing all session. The latest would let big businesses keep a portion of their employees’ income tax. So, some of the tax you would normally pay to the government would instead go to your employer.
Sen. Jim Stamas (R-Midland) is a bill sponsor. He says this would make Michigan more competitive with other states.
“This is about providing jobs to individuals, but more importantly jobs for Michigan families,” he said. “So I look forward to working with the House, sitting down with committee members, and explaining why this is an important issue that moves Michigan forward.”
But the “Good Job” package will likely see some resistance in the state House where Republican leadership has been focused on tax cuts for individuals, not businesses.
Sen. Patrick Colbeck (R-Canton Twp.) voiced similar concerns after voting “no” on the bills.
“I’m tired of the businesses being prioritized over the best interest of everybody,” he said. “We can all have a seat at the table and get some benefits if we do this right. But there seems to be a push so that all the folks that are putting money into campaigns are the ones getting the priority.”