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News That Affects You

Michigan's pension tax coming under fire

 

An effort to repeal the senior pension tax is picking up support in Lansing. The center piece of Governor Rick Snyder's economic recovery plan is getting criticism from both Democrats and Republicans and should be repealed says senator Curtis Hurtel Jr.

 

“I think the pension tax was a bad plan when we put it in there. I think that people who live on a fixed income shouldn't have had their taxes increased, we shouldn't do it on the backs of people when we cut $1.7 billion in corporate taxes, so I'm all in favor of it.”

 

All pensions (private and public) and retirement benefits are taxable in Michigan except US Military pensions, Michigan National Guard pensions, Social Security, and Railroad benefits.

 

 

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