Small Business Underwhelmed by Gov. Whitmer’s State of the State Proposal

Date: January 26, 2022

NFIB Calls on Governor for Real Tax Relief

FOR IMMEDIATE RELEASE

CONTACT:

Amanda Fisher, NFIB State Director, 517-927-1058, amanda.fisher@nfib.org

 

January 26, 2022 (LANSING)In response to Gov. Gretchen Whitmer’s 2022 State of the State Address, NFIB Michigan State Director Amanda Fisher made the following statement:

“Given the record surpluses state government received over the past year, which are projected to continue going forward, NFIB is disappointed that the only tax relief the Governor proposed is to eliminate the so-called ‘retirement tax.’ This is a proposal that would only cut taxes for seniors receiving public pensions.  

“Right now, small businesses in Michigan are struggling. In addition to the government shutdowns of the past two years, they are now dealing with labor shortages, supply chain issues, inflation, and increased government regulations that continue to drive up costs. Unlike big companies, small businesses often do not have the margin to survive such large cost increases so quickly. 

“NFIB and its members have always advocated for tax reductions that are broad-based, which is why we gladly supported Senate Bill 768 that passed out of the Senate Finance Committee today. SB 768 would cut the individual income tax and corporate tax rates to 3.9 percent. Approximately 40 percent of small businesses in Michigan pay their taxes through the corporate tax, and the rest through their individual income tax. This bill is an example of real tax relief for not only small businesses, but also individual taxpayers, including all seniors.

“If Governor Whitmer is sincere about helping small business, we implore her to continue the partnership and compromise with the legislature that marked the last weeks of December 2021 and support tax policy that does not pick winners and losers. NFIB stands ready to work with Michigan’s elected officials to use this unique budget opportunity to help our small businesses not only recover from the past two years, but to thrive.”

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For more than 75 years, NFIB has been advocating on behalf of America’s small and independent business owners, both in Washington, D.C., and in all 50 state capitals. NFIB is nonprofit, nonpartisan, and member-driven. Since our founding in 1943, NFIB has been exclusively dedicated to small and independent businesses, and remains so today. For more information, please visit nfib.com.

Related Content: Small Business News | Michigan

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