The Michigan Chamber of Commerce today announced its support for legislation that was introduced in the Michigan House by State Representative Ken Horn (R-Saginaw) to replace Michigan's burdensome and complicated Single Business Tax (SBT).
"For over 30 years, Michigan's SBT has been a litigation magnet and a drag on Michigan's business climate," said Michigan Chamber President & CEO Jim Barrett. "We are very encouraged that a proactive lawmaker like Ken Horn has taken the initiative to introduce a comprehensive plan to replace the SBT and provide meaningful personal property tax relief to all of Michigan's job providers."
"House Bill 4546, which has 30 co-sponsors in the State House, would replace the SBT with a broad-based business income tax and business license tax based on gross receipts. These provisions clearly address the need to replace the SBT in a timely manner with business taxes that are straightforward and commonly found in other states," said Tricia Kinley, Director of Tax Policy & Economic Development for the Michigan Chamber.
"Another positive aspect of House Bill 4546 is that it would replace over three quarters of the revenue currently generated by the SBT while providing Michigan's job providers with about $500 million in much needed tax relief," Kinley added.
"The good news for employers is that there is one plan to replace the SBT and provide meaningful personal property tax relief that was developed by business leaders," noted Kinley. In addition, a Senate version of the bill (Senate Bill 151) was introduced last month by State Senator Jud Gilbert (R- Algonac). Both bills have been endorsed by several local chambers of commerce.
"In addition to working with Representative Horn and Senator Gilbert to develop this plan, the Michigan Chamber has identified $500 million to $1 billion in cost-saving reform measures that can be enacted as part of a comprehensive effort to restructure both state government and business taxes," Kinley continued.
"We encourage employers across the state to support Representative Horn's proposal and we urge lawmakers to move forward promptly to resolve this key issue. We believe a fair and balanced replacement for the SBT can and should be signed into law by the end of April 2007," Barrett concluded.
Co-sponsors of House Bill 4546 include State Representatives: Kevin Elsenheimer (R-Bellaire); Kevin Green (R-Wyoming); Dave Hildenbrand (R- Lowell); Bill Huizenga (R-Zeeland); Phil Pavlov (R-St. Clair); Chuck Moss (R- Birmingham); Glenn Steil (R-Grand Rapids); Bruce Caswell (R-Hillsdale); Rick Jones (R-Grand Ledge); Paul Opsommer (R-Dewitt); Jack Brandenburg (R-Harrison Twp.); John Pastor (Livonia); Fran Amos (R-Waterford); Chris Ward (R- Brighton); Tom Casperson (R-Escanaba); Phil LaJoy (R-Canton); Tom Pearce (R- Rockford); Rick Shaffer (R-Three Rivers); Daniel Acciavatti (R-Chesterfield); Judy Emmons (R-Sheridan); John Garfield (R-Rochester Hills); Lorence Wenke (R- Galesburg); Brian Calley (R-Portland); John Proos (R-St. Joseph); David Law (R-Commerce Twp.); John Moolenaar (R-Midland); James Marleau (R-Lake Orion); Ed Gaffney (R-Grosse Pointe Farms); John Stakoe (R-Highland); and Howard Walker (R-Traverse City).
The Michigan Chamber of Commerce is a statewide business advocacy organization representing over 7,000 employers, trade associations and local chambers of commerce. The Michigan Chamber was established in 1959 to be a strong advocate for Michigan's job providers in the legislative, political and legal process. In addition to business advocacy, the Michigan Chamber provides members with a full range of services and benefits, including insurance, seminars, and publications.
SOURCE: Michigan Chamber of Commerce
CONTACT: Tricia Kinley of The Michigan Chamber of Commerce,
Web site: http://www.michamber.com/