As I wrote about a month ago, Republican House Representative Bob Genetski has a solution to Michigan’s budget problems: blow an $8.3 billion hole in it by repealing the state income tax. Well, the bill has been introduced: House Bill 4898. Here is the part that eliminates the tax:
HOUSE BILL No. 4898
July 18, 2013, Introduced by Reps. Genetski, Somerville, Franz, Howrylak and McMillin and referred to the Committee on Tax Policy.
A bill to amend 1967 PA 281, entitled “Income tax act of 1967,” by repealing part 1 (MCL 206.1 to 206.532).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Enacting section 1. Part 1 of the income tax act of 1967, 1967 PA 281, MCL 206.1 to 206.532, is repealed effective January 1, 2015. This amendatory act may be referred to as the “taxpayer freedom act”.
Enacting section 2. This amendatory act does not take effect unless approved by a majority of the electors of this state voting on the question at the next general election to be held in November 2014. This amendatory act shall be submitted to the qualified electors of this state at that election as provided by the Michigan election law, 1954 PA 116, MCL 168.1 to 168.992. If approved by the electors, this amendatory act takes effect January 1, 2015.
Here is the part that replaces the $8.3 billion that this bill would suck out of our already struggling state budget if Michigan voters vote it into law:
Just kidding! See what I did there? I pretended like a Republican would replace tax revenues after they lower or eliminate taxes. I just crack myself up sometimes.