Bill rolling back Michigan's retirement tax heads to conference committee
A bill that was set to change the state’s tax on retirement income is headed to conference committee for final negotiations.
The Democratic-led Senate on Wednesday gutted House Bill 4001. There has been speculation that in addition to reforming the so-called pension tax and increasing the Earned Income Tax Credit (EITC) for working families — two top priorities for Gov. Gretchen Whitmer — that more tax changes could be made and additional funds could be routed to economic development.
Michigan economic leaders said at a January Consensus Revenue Estimating Conference that the state has a more than $9 billion surplus.
Senate Appropriations Chair Sarah Anthony (D-Lansing) said the Senate gutted the bill as a “procedural measure” to get the bill to a conference committee.
The Senate conferees are: Anthony and Sens. Sam Singh (D-East Lansing) and Dan Lauwers (R-Brockway Twp.). The House conferees are: Reps. Samantha Steckloff (D-Farmington Hills), Cynthia Neeley (D-Flint) and Greg VanWoerkom (R-Norton Shores).
https://michiganadvance.com/2023/02/02/bill-rolling-back-michigans-retirement-tax-heads-to-conference-committee/
