05.23.2008
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| Michigan Republicans offer sales tax holiday on fuel purchases
Michigan Republicans offer sales tax holiday on fuel purchases 5/22/08 Quote:
Michigan is one of only nine states that collect a general sales tax on fuel purchases. With prices at the pump inching closer to the $5 per gallon mark in the state, Republicans at the statehouse say they have a plan to help consumers.
Two House Republicans unveiled an initiative to temporarily eliminate the 6 percent sales tax on fuel. The state’s fuel excise tax would not be affected.
A suspension of the sales tax would cost the state as much as $300 million through Labor Day. How a tax break or suspension would affect the status of the International Fuel Tax Agreement in Michigan is uncertain.
Reps. Rick Jones of Grand Ledge and Paul Opsommer of DeWitt say a summertime tax moratorium would save consumers about 25 cents per gallon at current prices.
“Our proposal will give Michigan residents much-needed tax relief at a time when oil companies continue to gouge people with impunity,” Jones said in a written statement.
To offset the lost revenue from the moratorium, advocates say the state’s budget surplus from a year ago could be tapped to protect essential programs, such as education. Spending cuts is another option, they say.
http://www.landlinemag.com/todays_ne.../052208-05.htm | |
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