Tax Breaks Considered For Job Creating Companies

The Michigan House of Representatives will be debating legislation that would provide millions of dollars in tax breaks to attract large businesses to the state.

Senators approved the legislation, sponsored by Midland Republican Jim Stamas, Tuesday.

The bills would give businesses that expand or move to Michigan and create at least 500 new jobs that pay the county average wage or higher a five-year, 50 percent abatement on the personal income tax withholdings of the new employees.

Companies creating at least 250 new jobs would be eligible to receive up to a 10-year, 100 percent break.

The incentives are supported by Governor Snyder.