The Michigan Chamber today expressed overall support for Governor Snyder’s approach to balancing the state budget without a general tax increase and repealing the job-killing Michigan Business Tax (MBT). Meaningful reform of both state spending and taxes will be the cornerstones of Michigan’s revitalization.
“Governor Snyder has identified out-of-control state spending and a job- killing business tax as substantial barriers to job growth and he has proposed bold changes to make Michigan more competitive,” said Michigan Chamber President & CEO Rich Studley. “Governor Snyder has set the tone that we must take responsibility for a legacy of debt and his budget and tax initiatives are devised as long-term solutions.”
“The Governor’s comprehensive tax reform is a clear indication of his relentless focus on job creation,” said Tricia Kinley, Senior Director of Tax and Regulatory Reform for the Michigan Chamber. “Repealing the job-killing MBT and replacing it with a six percent corporate income tax would end the unfair double taxation of approximately 95,000 job providers.”
“For the first time in eight years, we have an honest budget that is predicated upon holding the line on state spending and a tax proposal not dependent upon the government to pick the winners and losers,” noted Jim Holcomb, Senior Vice President of Business Advocacy & Associate General Counsel for the Michigan Chamber. “We are committed to working with the Governor, Senate Majority Leader Richardville and Speaker Bolger to ensure that we do not miss this window of opportunity to enact transformational reform.”