© 2021 MICHIGAN RADIO
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Politics & Government

Making the state's finances easier to understand

Snyder from Snyder Administration_0.jpg
Photo courtesy of the Snyder administration
/
Governor Rick Snyder will release what he hopes will be an easier-to-understand state balance sheet today

Governor Rick Snyder will speak later today in Lansing to the group Business Leaders for Michigan. He will release an outline of the data he thinks people need to understand the state’s budget crisis. He's expected to talk about his plans to reshape the state’s tax on businesses.

The Snyder administration has been circulating a draft version of a plan to scrap the complex and unpopular Michigan Business Tax in favor of a six-percent corporate income tax.

But the governor cautions his business tax reform plan remains a work in progress:

There’s a lot of speculation going on, and it’s a good dialouge to have out there in the public. I think we’re going to have a great plan based on simple, fair, and efficient.

The governor says he’d like to make paying Michigan’s corporate tax so simple it can all fit onto a single page. He wants it be an overall tax cut on Michigan’s business sector -- though some companies will pay more, some will pay less, and some will pay no business tax at all.

Manufacturers and other businesses say they are withholding judgment until they see how it might affect their bottom lines.

Related Content