What's in YOUR wallet? What you might get out of an income tax cut

Big savings?

Michigan legislators almost lowered the state income tax rate from 4.25 percent to 3.9 earlier this year, a move that would have cut about $1.1 billion in revenue a year from the state budget. They then considered a smaller cut, to 4.15 percent, which would remove about $250 million. For someone with $150,000 in state taxable income, the latter cut would save $150 annually.

Figure out how much this income-tax cut could save you: Put in your or your family’s Michigan taxable income to get an idea.


NEXT: Snyder is a Republican. Why do his experts want to spend more, not less?

About The Author

John Bebow

John Bebow is president and CEO of the Center for Michigan. Prior to joining the Center in 2006, he worked for 16 years as a professional journalist.

Mike Wilkinson

Mike Wilkinson is Bridge’s computer-assisted reporting specialist. He can be reached here.

Ted Roelofs

Ted Roelofs is a Bridge contributor based in Grand Rapids. He can be reached here.

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