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State lawmakers propose legislation to take tax breaks from gas companies and give to drivers

LANSING, MI (WTVB) - A couple of State House Democrats are proposing legislation that would take tax breaks away from the oil industry and give tax breaks to state residents who are stuck paying more than $4 a gallon right now to fill up. Representative Sean McCann of Kalamazoo is proposing a bill that would end tax loopholes for oil firms that he says are making record profits, but don’t seem interested in reinvesting in reliable refinery equipment.

A bill Proposed by Senator Jim Ananich of Flint would provide a tax break equal to 50% of what they spend on gas, to anyone earning less than $50,000 a year. They are also researching a plan to create a flexible spending account for fuel, much like there are tax deferrable accounts for college tuition or medical care.