August 28, 2025
A proposed constitutional amendment by 482 Forward aims to increase school funding by implementing an additional 5% tax on high-income earners - specifically on annual taxable income over $1 million for joint filers and $500,000 for single filers. The initiative faces opposition from business groups like the Detroit Regional Chamber, which argues the tax would harm economic competitiveness and small businesses. Though the Board of State Canvassers initially approved the petition language, they later rescinded approval, resulting in a deadlock at a subsequent meeting over concerns about fund allocation.
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Read full article from source: Michigan Chronicle