L. Brooks Patterson, the executive of Oakland County, announced during his state of the county speech last month that he was initiating a fundraising drive to get a repeal of the Single Business Tax on the ballot in November.
It was announced today that he had raised enough money to begin the drive. The Detroit News has an article on it here. A web site on the ballot initiative has been set up at www.RepealSBT.com.
This is great news. The SBT is the most onerous business tax in the nation. It is one reason why businesses will not locate here. The tax needs to be repealed, with nothing to replace it, in order to get businesses looking at our state again. We have the worst economy in the nation and one-off tax breaks and state speculative investments won't fix this long term, structural problem. It is one step in the direction of making Michigan attractive to business again.
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