Snyder Signs Tax Bills Giving Us Back What Trump Tax Cut Took Away
Governor Rick Snyder Wednesday signed a package of bills lowering what you'll pay next year on your Michigan income taxes, but isn't it really just a smoke screen hiding an ugly little truth?
Part of what Snyder signed just gives back what Michigander lost when President Trump's tax bill passed in December. That law set the federal personal exemption at zero. And since Michigan income taxes are based on your federal return, the new law effectively increased our taxes by $1.5 billion annually.
So this year, it appears we're getting it between the ...but we'll get some of it back next year. This might keep us from yelling "what tax cut?" when we hit the send button filing our taxes.
It's always something.