Road Deal Approved And Sent To Voters
The Michigan Legislature has approved a deal reached Thursday between legislative leaders and Governor Rick Snyder, on a plan to voters to raise one-point-three (b) billion dollars in new funding for roads.
Most of the revenue would come from a one percent increase in the Michigan sales tax.
Other revenue would come from a registration fee increase that would bring in 45 (m) million dollars and heavy-truck fees that would bring in 50 (m) million dollars.
The bill package also swaps the sales tax on gas for a tax on the wholesale price of gasoline.
The proposal would be on the statewide ballot in May.
Democrats also negotiated restoration of a 20 percent Earned Income Tax Credit, and also a guarantee that School Aid Money would be protected from legislative raids.
As a result, School Aid revenue would increase by a half-(b) billion dollars, according to the Lansing-based Gongwer News Service.