LANSING, Mich. — State Sen. Michael Webber applauds the upcoming state income tax rate cut from 4.25% to 4.05% for all Michiganders. The passage of House Bill 4001 without immediate effect makes this tax cut rate permanent.
“Many of us were elected on a promise of reducing costs and taxes on Michiganders — they need money put back in their pockets as they continue to face economic challenges,” said Webber, R-Rochester Hills.
It would also increase the state’s Earned Income Tax Credit (EITC) from 6% to 30% of the federal EITC and phase-in over four years an exemption on certain retirement income from the state income tax, such as public retirement or pension benefits.
“During this Senate session, I have voted yes to expand the Earned Income Tax Credit and for tax relief for retirees collecting a pension,” Webber said.