David Yardley 0

I'm voting NO on the May 5th Tax Increase Ballot Issue

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I'm voting NO on the May 5th Tax Increase Ballot Issue

Michigan residents on May 5 will vote on a constitutional amendment and a package of bills that will go into effect if approved. The proposal will increase the sales tax from 6 percent to 7percent, raise taxes on fuel, and increasevehicle registration taxes. It will also hike the state’s Earned Income Tax Credit.

Overall, the proposal will increase state tax revenue for fiscal year 2015-2016 by approximately $2 billion, of which $1.3 billion will go to funding transportation —initially to accelerate repayment of existing transportation bond debt, to increase overall road maintenance, and to spend more on transit and recreational grants.

Of the additional $700 million in new tax revenue, $300 million would go to public schools, $100 million to local government revenue sharing, and pledges for future spending on local bus and transit agencies.

The increase in the EITC will cost the state budget a further $260 million.

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