Senate approves Jansen’s vital phase out of the devastating MBT surcharge
LANSING - Two bills designed to support Michigan’s business owners by getting people back to work, providing needed tax relief, restraining spending and retaining jobs have passed the Senate, said Sen. Mark C. Jansen, R-Gaines Township.
“Today Senate Republicans led the way by passing bills to help job providers across the state,” Jansen said. “I’m relieved to see the support of Michigan businesses and job providers in these critical and troubling economic times.”
Senate Bill 1242 would phase out the 21.99 percent MBT surcharge over a three year period beginning Jan. 1, 2009. Jansen’s measure also would reduce the surcharge from the current 21.99 percent to 14.66 percent in tax year 2009. In tax year 2010 the surcharge would be reduced to 7.33 percent and finally eliminated in tax year 2011.
A phase-out or reduction of the surcharge was the primary recommendation of the Senate MBT Impact Assessment Subcommittee chaired by Jansen.
“From Grand Rapids to Gaylord, we heard from job providers across the state struggling with the MBT surcharge,” Jansen said. “Phasing out the surcharge is essential to the future and financial stability of Michigan businesses.
“I strongly urge my colleagues in the House to act swiftly on these bills. Business owners across the state desperately need these measures to be passed.”
SB 1242 now heads to the House of Representatives for consideration.
Posted: Thursday, October 02, 2008
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