Today, the Detroit Regional Chamber and MichAuto released the following statement to protect critical economic development incentives that are at risk in proposed legislation.
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Chamber, MichAuto Statement Opposing Vote to Increase Michigan Business Tax, Eliminate MEGA Credits
March 19, 2025
“The vote today in the State House to increase the Michigan Business Tax and eliminate the MEGA credits various large Michigan employers hold undermines trust in the state’s commitments, sending a disturbing signal to businesses that Michigan does not honor its contractual obligations.
For companies that have long honored their end of this bargain by retaining and creating jobs before receiving any credits, the vote today creates uncertainty that could drive them to relocate or invest elsewhere, especially as competing states continue to offer attractive incentives to lure businesses.
Ultimately, raising taxes on businesses would not only increase their costs but also harm Michigan’s competitiveness, discouraging future investment and economic expansion.”