Tax Compromise Eases Pinch on Some Retirees

Governor Snyder announced a compromise to his controversial pension tax plan yesterday. The Governor originally wanted to tax retiree pensions to boost state revenue. After much backlash, Snyder changed the law to exempt those over the age of 66 of pension taxes. The proposed tax will still hit a large number of retirees who will now have to shift their budgets or possibly take drastic measures. 9&10's Eric Lloyd has more details on the proposed change.