State lawmakers are slowly grinding toward a new road funding plan. The state House this week passed a $1.2 billion road funding proposal that heads to the state Senate for review. It’s being called the “600/600” plan because it calls for $600 million in new road funding and $600 million in yet-unspecified shifts from the state’s General Fund.
Revenue increases include:
The House plan also expands Michigan’s Homestead Property Tax Credit starting in the 2018 tax year to provide income tax relief targeting low and middle-income taxpayers. The household income cap would rise to $60,000 (up $10,000) and increase the maximum credit to $1,500 (+$300).
The Chamber Alliance will continue to monitor road funding legislation in Lansing and keep its members advised of the latest developments. Send your comments to Government Relations Director Kent Wood at email@example.com