KEY LEGISLATION:
House GOP Offers
SBT Tax Proposal
House Republicans announced their economic plan, which they claim is
designed to jumpstart Michigan’s ailing economy. Speaker of the
House Craig
DeRoche (R-Novi) said that Michigan needs a plan to help the state get
out
of the economic cellar.
“House Republicans are committed to passing an economic plan that
cuts taxes
on Michigan’s struggling manufacturers, provides broad-based relief
for
small businesses, ensures scholarships for a skilled and educated workforce
and invests $1 billion into the 21st Century Jobs Fund.”
The House Republican plan, a comprehensive alternative to Governor Jennifer
Granholm’s restructuring of the Single Business Tax and other initiatives,
would:
• Provide a personal property tax credit of 25 percent for manufacturers,
10
percent for commercial businesses;
• Eliminate the tax on health care;
• Cut taxes for more than 33,000 small businesses by 50 percent;
• Reduce the tax burden on payroll and equipment; and
• Cut the SBT rate for every business in Michigan as state revenues
increase.
According to the GOP, the 21st Century Jobs Fund will provide research
grants for life-science companies, seed-funding for venture capital
firms
and loan guarantees for emerging high-tech industries. The $1 billion
price
tag will be paid for by securitizing a portion of the state’s tobacco
settlement—in contrast to Gov. Granholm’s proposed $2 billion
bond proposal.
Minimum-Wage
Demonstrators Eye Ballot Initiative
During a daylong rally at the Capitol by organized labor, Michigan AFL-CIO
president Mark Gaffney implied that his organization is beginning the
process of putting the minimum wage increase on the November ’06
ballot. His
comments suggested that if the legislature won’t increase the minimum
wage,
they are headed to the ballot.
Gaffney indicated that labor is not in the actual petition stage, merely
the
strategy planning stage. Labor and Democrats have been attempting to
get
legislative action on legislation raising the minimum wage from $5.15
to
$7.15. Republicans have opposed their efforts.
Session to Continue
throughout Summer
The House and Senate will not meet the week of July 4, in observance
of
Independence Day. The session will resume the week after, however, with
both
the House and Senate indicating they will continue to meet on Wednesdays
throughout the summer until the budget is resolved.
KEY BILL INTRODUCTIONS:
No new introductions at this time.
To view the content and current status of retail-related
bills, visit BillTrack,
MRA's legislative tracking database exclusively for members, at
www.retailbilltrack.com
If you are currently receiving Capitol F@cts by fax and
would like to receive
it via e-mail, please contact Kathleen Wilson at 517.372.5656 or
kawilson@retailers.com.
For back issues of online Capitol F@cts, visit MRA's main Capitol F@cts page.
Specific comments or questions regarding this bulletin
should be directed to:
Kathleen Wilson, Administrative Assistant to the Governmental Affairs
Office at
kawilson@retailers.com.
Michigan Retailers Association
603 South Washington Avenue
Lansing, MI 48933
517.372.5656
Toll-Free: 800.366.3699
Fax: 517.372.1303
govt_affairs@retailers.com
www.retailers.com
www.mallofmichigan.com
