State Rep. Dave Prestin, R-Cedar River, today issued the following statement celebrating expected tax relief for the people of Michigan after the Legislature advanced tax legislation without blocking an automatic income tax cut or raising taxes:
“I’m proud to say my colleagues and I worked tirelessly for taxpayers throughout the state. I held my ground, voting against the alternative plan to hike taxes. Now, folks and small businesses across the state are slated to receive a permanent income tax cut as they continue to face rampant inflation and the rising cost of living. Working families and seniors will see even more relief. This is a major win for Michiganders.”
Under current state law, the individual income tax rate is set to be cut this year thanks to a law passed in 2015 by Republicans. The law stipulates that when government takes in too much money, an automatic income tax cut is triggered. The Senate advanced a version of House Bill 4001 Tuesday night that will allow the permanent, automatic income tax cut to take effect this spring for Michigan residents and small businesses. Other provisions to increase tax savings for retired seniors and boost the earned income tax credit for working families — policies House Republicans proposed at the start of this year — will take effect next year should the governor sign the bill.
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