New Michigan Ballot Initative to Abolish the state Single Business Tax?

[Dave from Michigan]

Oakland County Executive L. Brooks Patterson introduced this idea in his State of the County Address a few days ago.

if this passed it would cause a 1.85 Billion dollar hole in the 2007 Budget.  Legislators would have 10 months to make up the 1.85 billion in loss revenue.

http://www.freep.com/apps/pbcs.dll/article?AID=/20060209/NEWS06/602090546/0/NEWS05

Governor Granholm  spokeswoman's response

"She will not support any plan that shifts the tax burden from wealthy corporations to Michigan's hard-working men and women,"

also this just moves the repeal date of the Single business tax up to 2007.  In 2002 Engler and the republican controlled legislature passed a law repealing it in 2009.  So if this fails, the state still has to fix this or will have a 1.8 billion dollar hole in the budget.

I wouldn't underestimate Patterson this could easily be on the ballot, but I doubt it would pass.  People against it would just have to call it a tax cut for businesses and it would be finished.

[Flying Dog]

What else is wrong with this state?

[Dave from Michigan]

An update

L. Brooks Patterson has received enough money to start collecting signatures.

last week Oakland county executive L.  Brooks Patterson offered the state a 1 billion dollar loan to help cover the cost of repealing the single business tax until the state found new revenue.

The state House and Senate have approved Legislation to repeal the tax,  I'm not sure if it has been sent to granhom.  She has said she will veto it.

[Nym90]

I would vote against this proposal.

The Single Business Tax isn't really a very good idea, but unless there is some other proposal to recover the lost revenue, it should stay in place.

[Dave from Michigan]

appearently the single business tax expires in Dec 31st 2009 so all this does is move it up by 2 years dec 31st 2007. The Engler administration and the republican legislature passed this in dec of 2002 right before Engler left office.  so they better start looking for 1.8 billion dollars, I there's no way the republicans will raise taxes