State Rep. Steve Carra and the Michigan House of Representatives today voted to approve a plan to reduce taxes for working families and expand tax savings for seniors.
The plan, which would provide an estimated $2.5 billion in annual tax relief, is contained in Senate Bill 768.
“People don’t need handouts or centralized programs; they need less government intrusion into their lives and livelihoods,” said Carra, R-Three Rivers. “This plan will reduce taxes for everyone: whether they’re retired or pursuing their career, whether farming fields, counting up cash registers, or manning machinery — letting them keep more of their hard-earned money.”
The plan would lower Michigan’s individual income tax rate from 4.25% to 3.9%, reducing the burden on working and retired families across Michigan. The plan would also allow parents to receive a child tax credit of up to $500 per dependent under the age of 19.
In addition to paying a lower rate, seniors 62 years and older would be able to exempt $20,000 of all their income from the state income tax, or $40,000 for couples filing jointly. Eligibility for this exemption currently begins at age 67. The plan would further enable seniors to deduct retirement income — such as pensions, 401(k) plans and individual retirement accounts — not already included in the first exemption. This additional deduction would also allow up to $20,000 for individual filers and $40,000 for joint filers.
SB 768 now advances to the Senate for consideration.
The act of abortion has been legislated in the past, most notably in Michigan with the 1931 law that stated the administration of drugs meant to induce an abortion is a felony. However, this law has been compromised since the 1973 Roe v. Wade decision.
Tuesday, June 14th I voted NO on HB 5042 (Rep. VanWoerkom) would amend the Child Care Organizations Act by requiring an applicant for a child care center license to disclose the ownership interest in the child care center. EXPLANATION: Further requirements place a barrier on child care services. PASSED: 96-8 I voted YES on HB […]