Important 1 Percent Sales Tax Increase to be Decided by Voters in May
In a twenty hour marathon session, which began Thursday, December 18 at 10 a.m. and ended Friday, December 18 at 6 a.m., the Michigan House and Senate passed a multiple-bill package that would implement the plan for additional infrastructure transportation funding laid out by the Governor on December 17. The chambers also passed a joint resolution that would place a 1% increase to the state’s sales tax on the ballot in May.
After several hours, and one failed attempt, the Senate voted to adopt the resolution with eleven of the twelve members of the Democratic caucus joining fifteen Republicans. In addition to increasing the state sales tax, the ballot proposal will include barring School Aid Funds from being spent on public universities and removing the sales tax on motor fuel. Implementation of the package is tie-barred to passage of the ballot proposal. Highlights from the legislative package are as follows:
The package is expected to raise the additional $1.2 billion needed for the state’s crumbling infrastructure, as well as additional funding for public education and local governments. Governor Rick Snyder is expected to sign the legislation on December 29.
Your comment will be posted after it is approved.
Leave a Reply.
Casper Willson Wilson & Holmes, Inc. is a full service accounting and tax firm located in Mason, Michigan (just south of Lansing and Okemos, MI).