LANSING, Michigan— State Sen. Aric Nesbitt, R-Lawton, released the following statement after listening to Governor Gretchen Whitmer’s 2022 State of the State address virtually Wednesday night:
“The governor has talked about the tax issue, but we’ll see if that includes relief for all families and businesses in Michigan. Struggling families and small businesses are hit hard by inflation while the state budget brings in more revenue than expected. That is why I introduced Senate Bill 768, which was approved by the Senate Finance Committee earlier today for consideration by the full Senate.
“Our historic tax relief will lower income taxes for hard-working families, provide a $500 tax credit per child, and reduce Michigan’s corporate tax rate to the lowest in the Midwest. People are able to spend their own money far more efficiently and wisely than the government — leaving more resources for families and small businesses, expanding freedom, and encouraging the hard work and investment that are the cornerstones of a healthy economy.
“I hope Governor Whitmer will follow through and work with Senate Republicans and other legislative leaders to provide tax relief not just to some Michiganders, but to all of the hardworking men and women of this great state.
“It is important that we continue to work together to invest responsibly in initiatives that will benefit our state for generations to come, such as the $3.3 billion Protect MI Water plan to ensure our water drinking water and our natural resources are safe and protected and the $1.3 billion MI Safe Drive Plan to fix broken down bridges across our state without raising taxes, which were each passed by the Senate and moved to bedroom.
“Finally, I again urge the Governor to work with the Legislature and help connect more families to reliable Internet service by expanding broadband access to small communities across the state. We need to find a way to bridge this digital divide.
SB 768 would cut state personal and corporate income tax rates to 3.9% from 4.25% and 6%, respectively, and provide families with a $500 tax credit per child.