Governor Jennifer Granholm signed a bill lifting the ceiling off liquor sales. This means party stores, grocery stores, and other retailers will have a floor price but can raise their prices on liquor as high as they want.
Some critics' concerns are that the price of liquor will hike-up, but MSU Professor of Economics Charles Ballard feels the market will decide the prices. He feels if one store raises costs, they will simply lose business.
The owner of Tom's Party Store in East Lansing, Rich McCarius, says he will not drastically raise prices. Instead, he will keep popular liquors, like Jack Daniels, at very competitive costs. The price of special liquors, such as unique imports, may increase in his store.
The bill takes effect immediately, so don't be surprised if you see different liquor prices at different places.
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