A union-led petition drive is trying to increase the state’s Corporate Income Tax rate from 6 percent to 11 percent. The revenue would be used to fix roads.
Increasing the rate by 5 percentage points would generate about $900 million a year toward Governor Rick Snyder’s goal of $1.2 billion in new revenue for road repairs. It would also be a major change to the 2011 business tax overhaul engineered by Snyder and Republicans in the Legislature. Continue reading