LANSING, Mich. — State Sen. Aric Nesbitt, R-Lawton, issued the following statement after listening to Gov. Gretchen Whitmer’s 2022 State of the State address virtually Wednesday evening:
“The governor spoke about the issue of taxes, but we’ll see if that includes relief for all the families and business in Michigan. Struggling families and small businesses are being hit hard by inflation while the state budget is bringing in more revenue than estimates project. That is why I introduced Senate Bill 768, which was approved by the Senate Finance Committee earlier today for consideration by the full Senate.
“Our historic tax relief will lower income taxes on hardworking families, provide a $500 per child tax credit, and reduce Michigan’s business tax rate to the lowest in the Midwest. People are capable of spending their own money far more effectively and wisely than the government — leaving more resources with families and small businesses, expanding freedom, and encouraging hard work and investment that are the cornerstones of a healthy economy.
“I am hopeful that Gov. Whitmer will follow through and work with Senate Republicans and other legislative leaders to provide tax relief for not only some Michiganders, but for all of the hardworking men and women of this great state.
“It is important that we continue to work together to responsibly invest in initiatives that will benefit our state for generations to come, such as the $3.3 billion Protect MI Water plan to make sure our drinking water and natural resources are safe and protected and the $1.3 billion MI Safe Drive plan to repair bridges in severe condition across our state without raising taxes, which have each passed the Senate and moved on to the House.
“Finally, I again urge the governor to work with the Legislature and help connect more families to reliable internet service by expanding broadband access to smaller communities throughout the state. We must find a way to close this digital gap.”
SB 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.