|FOR IMMEDIATE RELEASE||Friday, May 21, 2010|
|Contact: Patrick Schuh||517-214-4288|
LANSING, MI—A leading citizens group advocating state reforms said today news that taxes paid by Michigan businesses have declined this year points to a need to focus debate on other revenue reforms.
“Michigan businesses paid nearly $447 million less than they expected this year, which is an argument for focusing the state’s reform effort on cutting taxes for middle-class Michigan taxpayers who are the ones who truly need a break,” said Cyndi Roper, campaign director for A Better Michigan Future. “Nearly 60 percent of Michigan business tax filers pay nothing in taxes, and this week we learned that for the remaining businesses who do pay taxes they are paying less than expected. It’s time to look at real reforms.”
A Better Michigan Future, a coalition of more than 45 organizations, is supporting reforms including implementing a graduated income tax that would provide tax breaks for 90 percent of Michigan families. The coalition also supports modernizing the state sales tax to extend it to luxury items and others services.
Senate and House fiscal agencies released their economic and revenue analysis in connection with today’s state revenue estimating conference. The reports show that businesses are paying nearly $447 million less this current year than projected this year.