Sandy K. Baruah President and Chief Executive Officer at Detroit Regional Chamber | LinkedIn
Sandy K. Baruah President and Chief Executive Officer at Detroit Regional Chamber | LinkedIn
Gov. Gretchen Whitmer has proposed a $3 billion plan aimed at enhancing road and bridge funding in Michigan. The plan includes tax increases totaling $2.2 billion, which would affect businesses and marijuana sales.
Reports have surfaced that Whitmer is considering an increase to the 6% corporate income tax. While specific details of the increase are not finalized, the Detroit Regional Chamber suggested it could rise to as much as 8%.
The governor's office acknowledged that a corporate income tax hike is part of the proposal, but its final size may vary based on other revenue sources and responses from key political figures, including Republican House Speaker Matt Hall and Democratic Senate Majority Leader Winnie Brinks.
Whitmer's proposal aims to address long-term infrastructure needs by securing additional funding through these tax adjustments.
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