A group of Michigan educational and labor organizations launched a ballot initiative to let Michigan voters decide if they want to place higher taxes on wealthy Michiganders to fund public K-12 schools last week and business groups are questioning how beneficial the change would be for the state.
Michigan’s 4.25% income tax rate has billionaires and teachers paying the same rate, Michigan Education Justice Coalition, one of the education groups behind the ballot initiative to add a 5% income tax hike for individuals with incomes over $500,000 and couples earning over $1 million said Thursday.
One of the key questions business groups will be considering when evaluating the proposed additional increases in income tax rates is how any change would impact Michigan’s competitiveness as a place to live and do business, Joshua Lunger, vice president of Government Affairs for the Grand Rapids Chamber, told Michigan Advance on Friday…