Governor Granholm Backs Middle Class Tax Cut Framework
Governor Granholm Statement on President Obama’s Efforts to Defend Middle Class
LANSING – Governor Jennifer M. Granholm today reiterated her support for a compromise reached by President Obama and members of Congress to extend unemployment insurance, tax cuts for working families, and other business incentives.
“The President has taken a pragmatic approach that will provide Michigan’s working families the relief they need during these difficult economic times,” Granholm said. “Without an extension of unemployment benefits, more than 181,000 Michigan residents would exhaust their benefits by the end of April.”
The governor encouraged Congress to work quickly to approve the framework, which includes the following benefits to families and businesses:
- A 13-month extension of unemployment benefits;
- An extension of existing middle class tax cuts;
- An additional two percent payroll tax cut for working people for one year;
- An extension of the earned income tax credit; and
- Allow businesses to expense all investments made in 2011, as well as a two-year extension of the R&D tax credit.