Rep. Pat Outman today voted in favor of a common-sense plan to lower taxes for all Michigan families and seniors.
Senate Bill 768 would provide $2.5 billion in annual tax relief to the people of Michigan. The plan would lower Michigan’s individual income tax rate from 4.25% to 3.9%, reducing the burden on working and retired families across Michigan. It would also allow parents to receive a child tax credit of up to $500 per dependent under the age of 18.
“Due to the ongoing pandemic, people in my community and all throughout the state are struggling,” said Outman, of Six Lakes. “With inflation through the roof, we need to better support Michigan’s citizens.”
In addition to paying a lower rate, seniors 62 years and older would be able to exempt $20,000 of all their income from the state income tax, or $40,000 for couples filing jointly. Eligibility for this exemption currently begins at age 67. The plan would further enable seniors to deduct retirement income — such as pensions, 401(k) plans and individual retirement accounts — not already included in the first exemption. This additional deduction would also allow up to $20,000 for individual filers and $40,000 for joint filers.
SB 768 now returns to the Senate for further consideration.
State Rep. Pat Outman (R-Six Lakes), who serves on the House Energy Committee, issued the following statement celebrating the Michigan Public Service Commission (MPSC) approval of the Line 5 Tunnel permitting process: “Michiganders encountered significant energy setbacks over the past week, with rising electricity rates and the looming threat that Gov. Whitmer’s green energy mandates […]
“Rate increases like this are just the beginning of what’s ahead for Michiganders under Democrats’ Green New Deal. Just one day after the governor signed the plan into law, we’re already seeing detrimental impacts.”
“Michigan families are already paying too much for electricity that isn’t reliable,” Outman said. “Rural communities like ours have experienced energy outages in recent years that only stand to get worse under these bills. The people of Michigan don’t want this plan, that’s why Democrats are stepping in to force it on them regardless of what local communities have already decided.”