What Republicans Did to Michigan = TWO BILLION $$$$ = Tax-O-Meter
What the Republicans did:
http://mitax-o-meter.com/what-the-republicans-did/
Last session, Governor Snyder and the Republican-led Legislature made severe changes to the Michigan tax code punishing middle-class families and seniors, including imposing a tax on retirement income, eliminating the Homestead Property Tax Credit for many families, a drastic cut to the Earned Income Tax Credit and the elimination of the $600 per-child tax deduction and tax credits for charitable donations. These changes were made to fund nearly $2 billion in tax breaks for big corporations, effectively making Michigan’s low-income and middle-class families pay for a handout to big corporations. The new taxes took effect in 2012, and many taxpayers became aware of them for the first time as they filed their state income taxes this year.
Overall, the Republicans:
Reduced deductions for pension income
Reduced homestead property tax credit
Reduced the earned income tax credit
Eliminated the city income tax credit
Eliminated the charitable or public contributions credit
Eliminated the community foundations credit
Eliminated the homeless shelter/food bank credit
Eliminated the historic preservation credit
Eliminated the stillbirth credit
Eliminated the college tuition and fees credit
Eliminated the qualified adoption credit
Eliminated the vehicle donation (“Wheels to Work”) credit
Eliminated the individual and family development credit
Eliminated the $600 per child deduction, along with miscellaneous other deductions
According to the May 2013 Consensus Estimates of the Senate Fiscal Agency, Michiganders are losing $4,320,822 every day ............
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