State Rep. Joseph Fox today announced tax relief is likely on the way for our state.
A large increase in revenue coming into the state is expected to trigger a rollback of the income tax rate starting with the 2023 tax year, thanks to a law put in place by House and Senate Republicans in 2015.
“This is crucial for the hard-working folks of Northwest Michigan, who I know struggle to make ends meet due to the ever-increasing price of essentials, as well as the historic rates of inflation,” said Fox, of Fremont. “This impending income tax cut will help families keep more money in their own pockets, allowing them to purchase groceries, gas, and other essentials.”
Under a provision of Michigan law passed by the Republican Legislature and governor in 2015, the individual income tax rate automatically decreases if year-over-year state general fund revenues increase at a greater rate than inflation. Such a tax cut will likely be triggered later this year, according to estimates from state financial officers, lowering the rate from 4.25% to 4.05%.
“To Gov. Whitmer, bipartisanship is a ‘half-truth’ meant to score political points,” said Fox, R-Fremont. “If she was serious about bipartisan legislation, then she and the Democrats would share power with Republicans in the evenly split House of Representatives and have conversations about plans that would actually benefit Michigan families.”
The Michigan House of Representatives voted early Thursday morning for a financial disclosure and transparency plan for government officials. Rep. Fox joined a large bipartisan group of legislators who voted NO on the plan, believing it did not go nearly far enough. The bills have been widely criticized by the public for their numerous loopholes […]
Rep. Joseph Fox spoke out today following a 15-hour House session orchestrated that finally ended as Democrats forced through a massive energy package for Michigan on a pure party line vote. The package primarily requires Michigan to switch to solar and wind power completely by 2035 bit it has come under more controversial fire for […]