Granholm: Let's Cut SBT Now, But...
Gov. Jennifer Granholm offered Republican legislators a compromise and an opportunity to do the right thing today by eliminating the controversial single business tax, but only if they replace the revenue lost with a better business tax and not ask Michigan families to bear the burden.
Here's the exact wording of the Governor's proposed agreement:
We agree to enact a bill that both:
1. Repeals the Single Business Tax for tax years beginning after December 31, 2006; and
2. Assures adoption of a better business tax that does not raise taxes on individuals and protects healthcare, education, and public safety by fully replacing revenue generated by the repealed tax.
The ball is in the Republicans court. Nice serve, Jennifer.