X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LANSING, Mich. (AP) — Gov. Rick Snyder and Republican legislative leaders worked out a budget agreement Wednesday that would allow for a small cut in individual income taxes, twice as much money for film credits, a slight increase in education funding and a down payment on school employees’ health care costs in retirement.

The tax cut would amount to $90 million, but most people might not notice it since wealthier taxpayers may save only around $100 and low-income families may save only $10. The state expects to receive nearly $7 billion in income tax revenue this fiscal year and nearly $8 billion next year.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?

Dig Deeper

BenefitsPRO

Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.