While Governor Granholm has insisted that her soon-to-be-released proposal to restructure Michigan's business taxes will be "revenue neutral," the Governor's office issued news releases on November 16 and 17 highlighting the importance of providing four companies with SBT credits to create or retain jobs, notes the Michigan Chamber of Commerce.
"The Governor's inconsistent stand on Michigan's Single Business Tax increasingly sends a mixed message to Michigan's job providers," said Michigan Chamber President & CEO Jim Barrett. "While the Administration promises much- needed SBT relief to a few companies, the Governor's insistence on a revenue neutral restructuring of taxes for the rest of the business community will almost certainly result in tax increases and tax shifts for other worthy employers."
"In 2003, approximately 92,000 employers paid over $1.8 billion in Single Business Taxes to the State of Michigan," noted Rich Studley, Senior Vice President of Government Relations for the Michigan Chamber. "While we appreciate the Michigan Economic Development Corporation's providing SBT credits to four companies, 91,996 other companies also need SBT relief."
"Michigan's business climate has improved significantly during the past few years, but the heavy tax burden state government imposes on all employers continues to be a problem. We encourage the Governor to propose meaningful tax relief for all of Michigan's job providers," Barrett concluded.
The Michigan Chamber is a statewide business organization which represents more than 6,300 employers, trade associations and local chambers of commerce. The Michigan Chamber was established in 1959 to be an advocate for Michigan's job providers in the legislative, political and legal process.
SOURCE: Michigan Chamber of Commerce
CONTACT: Rich Studley, Senior V.P., Gov't Relations of Michigan Chamber
of Commerce, +1-517-371-7659
Web site: http://www.michamber.com/