McCready votes to protect essential community services funding during historic PPT phaseout

first_img Categories: McCready News,News The Michigan House yesterday approved a package of ten Personal Property Tax (PPT) bills with the support of Rep. Mike McCready, R-Bloomfield Hills, to make sure schools and local communities don’t lose essential revenue during the PPT phase-out. Michigan’s PPT has historically been a detriment to business growth and will continue to be phased out as scheduled. Senate Bills 821-830 reform and simplify the personal property tax system, encouraging job growth in Michigan.“It is a responsible piece of legislation to ensure there will be no additional costs for Michigan’s hard-working taxpayers during this welcome transition,” McCready said. “100 percent reimbursement for our schools and local governments is a result of a revenue shift, not a new tax, which is why this package is a solid compromise for all.”Under PPT, Michigan businesses pay taxes on equipment, machinery and furniture among other purchases, which puts the state at a disadvantage when attracting and retaining additional jobs in comparison to surrounding states that lack a similar tax.“The last thing we want to do is give businesses a reason to set up shop outside our border,” McCready said. “We are making Michigan more competitive regionally, which in turn will foster job growth and encourage economic expansion.”The collaborative, job-growing bill package received no opposition in committee from state lawmakers or local governments, and garnered overwhelming bipartisan support on the floor. The bills now return to the Senate for consideration.### 26Mar McCready votes to protect essential community services, funding during historic PPT phase-outlast_img

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