Rochester Hills, MI – Today, after hearing the additonal revenue estimates coming into the State coffers from today’s May Revenue Estimating Conference, Rep. Tom McMillin (R – Rochester Hills) said, “If Lansing seems interested in spending some of this estimated additional revenue, then I believe a significant portion of it should be used to drop the personal income tax rate from 4.35% to 4.25% starting October 1 of this year.”
It’s expected that Rep. McMillin’s proposal would reduce revenue by about $200 million. McMillin indicated he started circulating his idea recently and it has been met with interest from fellow legislators.
About Tom and Ann Gendich