Rep. Pat Outman today voted in favor of a common-sense plan to lower taxes for all Michigan families and seniors.
Senate Bill 768 would provide $2.5 billion in annual tax relief to the people of Michigan. The plan would lower Michigan’s individual income tax rate from 4.25% to 3.9%, reducing the burden on working and retired families across Michigan. It would also allow parents to receive a child tax credit of up to $500 per dependent under the age of 18.
“Due to the ongoing pandemic, people in my community and all throughout the state are struggling,” said Outman, of Six Lakes. “With inflation through the roof, we need to better support Michigan’s citizens.”
In addition to paying a lower rate, seniors 62 years and older would be able to exempt $20,000 of all their income from the state income tax, or $40,000 for couples filing jointly. Eligibility for this exemption currently begins at age 67. The plan would further enable seniors to deduct retirement income — such as pensions, 401(k) plans and individual retirement accounts — not already included in the first exemption. This additional deduction would also allow up to $20,000 for individual filers and $40,000 for joint filers.
SB 768 now returns to the Senate for further consideration.
State Rep. Pat Outman (R-Six Lakes) joined the Michigan Legislature in approving a bipartisan budget that supports key public services, such as schools, law enforcement, and roads, while paying down debt.
State Rep. Pat Outman (R-Six Lakes) issued the following statement after the president asked Congress to suspend the federal gas tax, urging Gov. Whitmer to give drivers additional savings at the pump by approving a state gas tax break as proposed by the Legislature:
State Rep. Pat Outman (R-Six Lakes) joined his House colleagues this week in advancing a state budget plan for the upcoming fiscal year that makes responsible, lasting investments in essential public infrastructure, programs and services and lays the foundation for real tax relief.