Say No to Harmful Corporate Income Tax Increase
Michigan’s landmark 2011 tax reform remains a catalyst for reinvention, setting the state on a trajectory of increased job creation and investment. Since that time, Michigan has gained nearly 400,000 new private sector jobs, the fifth most in the nation and first in the Midwest. In addition, the state’s unemployment rate has been cut to 5.5 percent. (Bureau of Labor and Statistics)
This dramatic comeback would not have been possible without creating the competitive tax and business climate that allowed the state’s economy to thrive.
However, a new petition drive threatens this economic progress by nearly doubling the Corporate Income Tax (CIT) from 6 to 11 percent. The petition aims to fund infrastructure repairs, but does so at the expense of Michigan’s future growth and prosperity. It reflects the same broken policy that contributed to Michigan’s devastating job loss during the “Lost Decade.”
Everyone agrees that the roads desperately need to be fixed. The Detroit Regional Chamber has made the issue a top legislative priority, advocating for a sustainable solution that adheres to its “Five Principles for Transportation Funding.”
But the state can’t solve one problem by creating another. This petition would undercut Michigan’s remarkable resurgence, hurt existing employers and deter investors from around the world from considering Michigan as a place to do business.
It is up to you. Decline to sign this job-killing petition and help keep Michigan’s economy strong.
Retweet the image below to show your support.
It’s up to you. #DeclineToSign this job-killing petition & help keep MI’s economy strong -> http://t.co/wdxGvB1r83 pic.twitter.com/nS9QWgPSlS
— Detroit Chamber (@DetroitChamber) August 18, 2015
Resources:
Crain’s Detroit Business: Detroit Regional Chamber to Campaign Against Tax Hike
Detroit News: ‘Fair tax’ for Roads Goes Wrong Way
Gov. Snyder: Corporate Tax Hike for Roads Would Undo Economic Progress
Michigan Chamber: What You Need to Know About the CIT Tax Hike
Release: Chamber Responds to CIT Increase Petition Drive
The Chamber’s 5 Principles for Transportation Funding
Paid for with regulated funds by the Powering the Economy PAC, 1 Woodward Ave., Suite 1900, Detroit, MI 48226
