GOP Warns About Increased Insurance Rates

By: Sr. Capitol Correspondent Tim Skubick
By: Sr. Capitol Correspondent Tim Skubick

The Insurance industry is warning consumers that their life, car, and home insurance premiums could go up another $100 per household if Governor Granholm is successful in hiking the state tax on that industry.

But the prospects of that happening appear to be dimming as the GOP Speaker of the House says the plan has "little chance" of passing that body unless "significant changes are made."

The governor wants to increase the Single Business Tax on those companies because she contends they are not paying their fair share. She wants the new money to pay for her SBT tax relief package for 77 percent of all other Michigan businesses.


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