LANSING, Mich. — Sen. Dale Zorn on Thursday voted in favor of a plan to reduce the tax burden on Michigan workers, seniors and veterans.
“The state is sitting on a surplus of funds and Friday’s Consensus Revenue Estimating Conference is expected to bring even more good news about state revenues,” said Zorn, R-Onsted. “Responsible, efficient use of taxpayer dollars has put us in a position where we can afford to provide tax relief — and there’s no better time than now when folks are struggling with the skyrocketing costs of everyday items.”
The MI Family Inflation Relief Plan would help every Michigander by lowering the state’s income tax to 4% and increasing the personal income tax deduction by $1,800. It would also support Michigan families by creating a $500 tax credit for each child under the age of 19 and seeks to help reduce the significant burden inflation has caused to lower-income families by increasing the Earned Income Tax Credit.
House Bill 4568 and Senate Bill 784 would also increase the tax exemption for Michigan seniors over 67 to $21,800 for individuals and $43,600 for couples and ensure Michigan’s fully disabled veterans and the spouses of those lost in combat a 100% property tax exemption.
“This legislation lets Michigan workers keep more of their hard-earned money, gets government out of the pockets of seniors who spent a lifetime building their savings and provides help to families across the state who are struggling to make ends meet,” Zorn said. “I was proud to support this legislation today and I hope the governor will finally get on board and hear the calls for help coming from every corner of the state.”