(MPRN-Lansing) Governor Rick Snyder’s administration is looking at making changes to state tax laws early in 2018. That’s after it discovered the new federal tax law could have an impact on Michigan resident’s wallets.
One consequence is the loss of some exemptions. That would raise what people owe in state taxes. Lieutenant Governor Brian Calley has been looking into the issue. He said the administration wants to change the state tax code so residents can still use all the state tax exemptions. Calley said they’re waiting for a bit more data before making any final decisions.
“And we’ll be able to use that data in order to guide the way and what individual income tax changes are needed at the state level to ensure that no individuals end up seeing a tax increase because of that.”
The state Legislature is ready to get involved too. Representative Jim Tedder (R-Clarkson) is chair of the House Tax Policy committee. He said he’s started conversations with the governor’s administration.
“I believe that the entire House caucus is ready and willing to not only make sure that this is net neutral but to also look at additional considerations of how we can save Michigan tax payers money and put more money in their pockets, frankly,” he said.
Tedder said he would also like to see the Legislature revisit the state income tax this year. A bill to phase out the tax couldn’t make it through the House last year.
