Tax cuts are much better than tax rebates
Michigan finds itself in the rare spot of having more money coming into the state budget than it needs to run the state. Both Republican legislative leaders and Democratic Gov. Gretchen Whitmer agree that at least some of the $6 billion in extra funds should be returned to taxpayers. But they are far apart in how to accomplish that goal. Whitmer wants one-time rebate checks of $500 a person, something she says will help residents deal with inflation immediately. Lawmakers have already passed a bill, with some bipartisan support, that would cut the income tax rate to 4% from 4.25%, a ...