State House Republicans laid out their plan to jump-start the economy Thursday. It includes providing tax credits for businesses and selling off some future tobacco revenue to get a lump sum payment of three billion for investments.
House Speaker Craig DeRoche of Novi says the plan represents a chance to roll out the welcome mat for every industry and every employer.
The plan would give manufacturers a 25 percent credit on the Single Business Tax to offset personal property taxes. Commercial businesses would get a 10 percent credit for the same thing.
Combined, the tax credits would cost the state $221 million in the upcoming fiscal year. The House is expected to take up legislation that reflects the pieces of their plan in the coming weeks.