House Republican Leader Matt Hall, R-Richland Township, on Tuesday issued the following statement after the Michigan House of Representatives passed a landmark plan to create a research and development tax credit:
“After weeks of the divided House Democrat caucus going it alone and hitting a dead end on their partisan agenda, Speaker Tate finally decided to work with Republicans, and we achieved a huge bipartisan win that will transform Michigan into the national leader in innovation and engineering. This legislation originally called for an unfair, convoluted grant program at the whim of Gov. Whitmer’s political allies. Because of House Republican efforts, the final plan creates a fair, streamlined tax credit to incentivize businesses to invest in Michigan-based research. The new plan will not only help businesses launch new research projects and create high-paying careers, but thanks to House Republicans, it will also help keep ongoing research and development here in Michigan.”
The House-approved bills will create a research and development tax credit for Michigan businesses and research institutions. House Republicans secured amendments to arrange a simple, objective tax credit process, instead of a complicated, subjective grant program run by the Michigan Strategic Fund, which the original bill proposed. The caucus also secured a provision to help retain jobs by adding in a tax credit for existing research and development projects.
Hall has long been a leading proponent of a research and development tax credit, introducing legislation last term and again this year.
“DTE’s $368 million electric rate increase on Michigan residents and job providers is nothing compared to what’s coming down the pipeline next. The utilities will collect a windfall under Democrats’ energy mandates that became law this week.”
“The population council’s current proposal isn’t even a real plan and has no strategy to grow our population,” Hall said. “It’s just a long wish list for new revenues — tax hikes on Michiganders.”
“Michiganders want their leaders to work together to make our state safe and successful,” Hall said. “The balance of power in the House of Representatives is a call to bipartisanship, and Michigan legislators on both sides of the aisle should answer the call and find common ground.”