Income Tax Rollback Fails In State House

Efforts to cut Michigan’s income tax failed after a long 12 hour House session that ended early this morning.

The House voted down the bill 55 to 52.

That vote came after an amendment was adopted that called for the income tax rate to drop to 4.15 percent in 2018 and 4.05 percent in 2019, but it wouldn’t have continued to drop unless the Budget Stabilization Fund had a balance of $1 billion or more.