Michigan unemployment continues to decline

Michigan unemployment continues to decline

Lansing­–Michigan’s unemployment rate has continued its downward trend, coming in at 8.3 percent in April.

That’s compared to 8.5 percent in March and 10.5 percent in April 2011, according to data released on Wednesday by the Michigan Department of Technology, Management & Budget.

“This is more good news for Michigan and for our state’s economy,” said state Sen. Brandenburg R-Harrison Township. “We are continuing to see steady declines in the jobless rate, and I look forward to continued, consistent progress for Michigan.”

 

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PPT reform approved by Michigan Senate

PPT reform approved by Michigan Senate

LANSING— Legislation that would reduce the personal property tax for Michigan businesses was approved by the Michigan Senate Thursday, said sponsor state Sen. Jack Brandenburg.

“This is a major step in the right direction for Michigan businesses,” said Brandenburg R-Harrison Township. “During my campaign, I promised to do everything in my power to create jobs and foster an environment that would attract new business and allow current companies to expand. Personal property tax reform does just that.”

This eight-bill package would alter the personal property tax in the following ways:
• Effective Dec. 31, 2012 any commercial or industrial business that have personal property valued at $40,000  or less will not pay taxes and will not file a return. This would eliminate 75-80 percent of returns that currently need to be filed.
• Effective Dec. 31, 2015 all eligible industrial personal property bought after Dec. 31, 2011 will not be taxable.
• Effective Dec. 31, 2015 any eligible personal property that is 10 years old will no longer be taxed. This will continue each year until all property is tax exempt.

Brandenburg sponsored Senate Bills 1065 and 1072 and co-sponsored the rest of the package.

“According to a study by Anderson Economic Group reforming Michigan’s personal property tax structure would create between 6 thousand and 15 thousand jobs,” Brandenburg said. “As I have said before, this package will create jobs and it will help move Michigan forward.  I want Michigan to be a business model for the rest of the country, and I believe this legislation is critical to moving Michigan forward.

SBs 1065-1072 now advance to the Michigan House of Representatives.
 

Senate panel approves personal property tax reform

Senate panel approves personal property tax reform

Lansing— Legislation that would reduce the personal property tax for Michigan businesses was approved by the Senate Finance Committee on Tuesday said, Chairman Sen. Jack Brandenburg.

“First off, I would like to thank everyone who came to testify before the committee,” said Brandenburg R-Harrison Township. “Some people made multiple trips to Lansing in order to listen and offer testimony and the committee is better informed because of their efforts.”

This eight-bill package would alter the personal property tax in the following ways:
• Effective Dec. 31, 2012 any commercial or industrial business that have personal property valued at $40,000  or less will not pay taxes and will not file a return. This would eliminate 75-80% of returns that currently need to be filed.
• Effective Dec. 31, 2015 all eligible industrial personal property bought after December 31, 2011 will not be taxable.
• Effective Dec. 31, 2015 any eligible personal property that is 10 years old will no longer be taxed. This will continue each year until all property is tax exempt.

Brandenburg is sponsor of Senate Bills 1065 and 1072 and will co-sponsor the rest of the package.

“When job providers are able to grow and provide jobs, everyone is better off,” Brandenburg said. “A growing vibrant economy can solve many of the problems that our state is facing. This package will attract new businesses to Michigan and will allow new companies to expand as they see fit.”

SBs 1065-1072 now advance to the full Senate for consideration.