(Lansing-WWJ) Governor Rick Snyder has provided the Associated Press with details of the budget proposal he will present to state lawmakers Thursday.
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The 45 billion dollar proposal for the fiscal year that begins Oct. 1 cuts spending for public schools, universities and local governments and proposes replacing the unpopular Michigan Business Tax with a flat six-percent income tax on major corporations.
In additon, the blueprint includes a controversial proposal to eliminate the state income tax exemption for private pensions plus a tax break for low-income workers, saving, Snyder says, an estimated 1.7 billion dollars.
Republican Snyder will give lawmakers just two bills. One includes all education funding, the other covers everything else. He’s asking the Legislature to give his budget final approval by May 31.