LANSING, MI (WKZO AM/FM) – 26th District State Senator Aric Nesbitt has introduced legislation that he says will lower the state tax rates and encourage economic growth across Michigan.
In a release, the Republican lawmaker from Lawton said, “The people of Michigan have weathered substantial economic hardship in the wake of the coronavirus pandemic and now face historic inflation and high energy costs; the time has come to support them with historic tax relief and position our state for an epic economic recovery,” said Nesbitt, R-Lawton.
Senate Bill 768 would lower the state’s personal and corporate income tax rates to 3.9% from 4.25% and 6%, respectively, and provide families with a $500 per child tax credit.
SB 768 has been referred to the Senate Finance Committee for consideration.
