LANSING – Senator Dave Hildenbrand has introduced Senate Bill 1, a measure to repeal the Michigan Business Tax.
“This is a major goal for job providers in my district and throughout the state,” said Hildenbrand, R-Lowell. “Because this reform is so important, the Senate Republican Caucus made it the first bill introduced in the new legislative session.”
The first-term lawmaker said the MBT, enacted in 2007, is despised by business owners and considered enormously harmful to job growth.
“Michigan’s unemployment rate is one of the highest in the nation and jobs are leaving Michigan at a record pace,” Hildenbrand said. “Our number one priority must be to create a better job climate so we can retain companies and attract new firms. It’s time to send a signal that Michigan is open and ready for business. Repealing this onerous tax would be an excellent start.”
Experts believe that repealing the MBT would increase employment in Michigan and increase total investment in the state by billions of dollars.
“I commend Senator Hildenbrand for his willingness to tackle this significant issue,” said Senate Majority Leader Randy Richardville, R-Monroe. “It’s vital that we move to restructure and reinvent this state, and this measure is an important first step in the process.”