UNDATED (WTVB) - Michigan's poor population will pay more taxes this year, while tax rates for corporations in the state were drastically lowered. A report from the Center on Budget and Policy Priorities, a D.C. research organization, says changes in the Earned Income Tax Credit will raise taxes for poor families by nearly $700 a year. The EITC was cut from 20% of the federal credit to six percent for the 2012 tax year. Karen Holcomb-Merrill, policy director of the Michigan League for Human Services, says that unless the EITC is restored, "Michigan will soon tax the working poor into poverty, instead of helping families climb into the middle class." New tax laws, championed by Governor Rick Snyder, caused a reported overall change that dropped corporate income taxes by 83%, while income taxes increased by 23%
Steve Gunn 3:00 PM - 5:00 PM
On Air Now.