Governor Gretchen Whitmer has announced a deal with legislative Democrats on a tax cut package. Her office says the Lowering MI Costs plan will deliver the largest tax break to Michiganders in decades. The plan would repeal the retirement tax, increase the Working Families Tax Credit, and deliver inflation relief checks to all Michigan taxpayers. State Senator Aric Nesbitt, a day after slamming the governor for not supporting an across the board income tax cut, says he’s “cautiously optimistic.” In a statement, Nesbitt says, the governor “may finally be heeding our call for immediate inflation relief for Michiganders. But when it comes to lower taxes, her actions have too frequently failed to match her words.” Whitmer says the plan would save 500,000 households an average of $1,000 a year with the pension tax repeal and put an average of $3,150 back into the pockets of 700,000 Michiganders with the Working Families Tax Credit increase. The amount of the inflation relief checks has not yet been released. The plan would need the approval of the Legislature.
