Northern Michigan Businesses Express Excitement for Tax Plan; Congressman Huizenga Agrees
Thursday, Northern Michigan is reacting to the tax plan.
“For a long time taxes are one of the number one political issues,” says Professor Daniel Undeerwood, Ferris State University.
It’s the first big plan to change the tax code in 31 years.
“Both the House bill and the Senate bill are looking at decreasing taxes to cooperate America to reinvigorate the economy and also to the middle class and start giving tax breaks to people that have waited 30 plus years for tax reform. We don’t know what it looks like,” says Undeerwood.
Businesses are excited.
It would take the top corporate tax rate from 35 to 20 percent.
“I think it gives people a lot of encouragement especially if people want to start businesses, they are more likely wanting to try,” says Thaddaeus Gommesen, owner of Toy Town.
And for a small business owner in Cadillac, every bit counts.
“Everything is based on the margin, little changes can make a big difference. Over time you might be a couple hundred dollars a year, but over time what is that, a college payment, that’s very important to people with kids,” says Gommesen.
We also spoke with U.S. Congressman Bill Huizenga. He says this bill is a step in the right direction for Michigan.
“Michigan is dotted with small and medium sized businesses that are really the engine of our economy. It doesn’t always grab the headlines of 100 jobs, but it’s all of these smaller companies that are adding to two or three employees throughout our regions, that really have improved our economy in Michigan. We need to support them and give them a tax break that they deserve,” says Huizenga.
The Senate will be coming up with a different tax plan that would have to be reconciled with the House bill if it passes.