While the Consensus Revenue Estimating Conference includes some challenging information regarding the rising costs of tax credits issued in 2011 and earlier, it also confirms consistent economic growth. Back in 2011, we scrapped the old tax system because it played favorites between different industries and businesses with exemptions and credits. We instead went to a system that treats everyone the same. However, with an improving economy, more companies that were awarded those old tax credits are making the hires and the investments required to claim them. This is the source of the reduced revenue estimates. Here is Governor Rick Snyders statement on the revenue estimates.
Posted on: Fri, 16 Jan 2015 20:18:43 +0000
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