LANSING, Mich., May 26, 2011 /PRNewswire/ -- The Michigan Chamber of Commerce today expressed great appreciation to Governor Rick Snyder, Lieutenant Governor Brian Calley, Senate Majority Leader Randy Richardville and House Speaker Jase Bolger for their leadership to end the job-killing Michigan Business Tax and finalize its replacement with a competitive, pro-growth Corporate Income Tax.

"The Michigan Chamber fully supports this landmark legislation," said Michigan Chamber President & CEO Rich Studley. "We view signage of this new business tax as a historic moment that instantly makes Michigan more attractive to job creation and business growth."

"The strong and effective leadership exhibited on this tax reform, and all the other accomplishments to date, sends the right message about Michigan's future: we are serious about improving our economic competitiveness," added Studley.

Governor Rick Snyder, flanked by Calley, Richardville, Bolger and numerous legislators instrumental in passage of tax reform, signed into law on Wednesday a replacement to the job-killing Michigan Business Tax. The new Corporate Income Tax will immediately end double-taxation of nearly 100,000 small and mid-size job providers and vaults Michigan into a top 20 state in business tax rankings.

"The Michigan Chamber opposed the MBT in 2007 based on obvious problems and flaws; it was confirmed to be an unmitigated disaster," noted Tricia Kinley, Senior Director of Tax and Regulatory Reform for the Michigan Chamber. "Our members knew we could do better and the new Corporate Income Tax will prove it."

"No one should underestimate the importance of this tax reform," added Kinley. "Our members are relieved and excited to have not only this major reform signed into law, but bold and decisive leadership at the helm of our state. We couldn't be more excited about all of the positive action and momentum to improve our great state."

The Michigan Chamber of Commerce is a statewide business organization representing approximately 6,800 employers, trade associations and local chambers of commerce. The Michigan Chamber represents businesses of every size and type in all 83 counties of the state. The Chamber was established in 1959 to be an advocate for Michigan's job providers in the legislative, political and legal process. It is one of only four state chambers of commerce in the nation accredited by the U.S. Chamber of Commerce.

SOURCE Michigan Chamber of Commerce