Michigan Chamber of Commerce issued the following announcement on Sept. 9.
A bill introduced in the State Senate last week would remove the two-year sunset and $200 million cap on the Good Jobs for Michigan program enacted in 2017. Completely eliminating both the sunset and the cap is concerning.
The Good Jobs for Michigan program was introduced to promote more jobs by incentivizing companies to hire hundreds or thousands of new employees at higher salaries. In exchange, the program allows these businesses to retain their new employees’ income tax withholdings as a reward for creating new jobs. Not everyone agrees that it's in Michigan’s best interest to extend the program or that the program has actually helped to further develop Michigan's economy.
The Michigan Chamber is reviewing this legislation and will report back as the issue unfolds.
For more information, contact Dan Papineau at firstname.lastname@example.org.
Original source: https://www.michamber.com/chamber-monitoring-legislation-extend-good-jobs-michigan-tax-incentive-program