Former pension tax bill goes to conference committee; Republicans worry it will see major changes
Michigan lawmakers could be setting a bill up to cut taxes for retirees, provide certain breaks, and spend money on economic incentives. But all that's still up in the air
No one seems certain about what the bill will eventually become.
But Republicans say plans they’ve seen would retro-actively deposit money into a reserve meant to attract large-scale development projects, rather than the state’s general fund.
Representative Sarah Lightner says that would likely put revenue below marks needed to trigger a projected tax cut.
“And so, nobody will get relief. So, the working class, the seniors, families, no relief there. But we’re going to give out 600, 700 million dollars to a corporation to benefit one part of Michigan.”
Democrats say it’s premature to assume the tax cut will be triggered to begin with.
The bill as currently written is only a placeholder with minor changes.