By SAODAT ASANOVA -TAYLOR
Capital News Service
LANSING – While lawmakers consider repealing the personal property tax on business, some officials in Northern and Southeast Michigan endorse the proposal while others argue that it will cause a major reduction to local government budgets. Rep. Frank Foster, R-Pellston, said he supports the concept. “Businesses are the ones who bring more money to the state,” he said. “It is necessary to build a proper investment climate to attract new businesses.”
According to Foster, manufacturers would benefit the most, as they have to pay the tax on machinery and all other equipment. Elimination of the tax would mean that they save money to purchase additional equipment and hire more people, he said.