Governor Rick Snyder has signed into law a measure that ensures the personal exemption on state income taxes will not disappear as a result of the new federal tax law. The governor says the state can handle a tax cut and spending more to fix roads.
The new law amounts to a net tax reduction as the state is scrambling for revenue to fix roads. The tax rollback will cut up to $180 million in state revenue. The governor says there’s still enough, though, to put another $175 million this year into road funding.
“So is it going to fix every pothole in Michigan? No. But we’re making major steps forward.”
But the governor also says it will be tough to keep up with the damage caused by the frequent freezes and thaws and flooding this winter. The tax cut amounts to about $25 per taxpayer.
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