The Michigan Department of Treasury issues an annual report on so-called tax expenditures -- the credits, deductions and exemptions that reduce the hypothetical maximum burden on Michigan taxpayers. The total for 2011 is estimated at $33.8 billion. Gov. Rick Snyder has ordered a review of tax credits and may propose that some be reduced or eliminated.
Here's a handful under scrutiny:
Film credits: $100 million. The nation's most generous subsidies for movie and TV productions are popular with the public but rapidly escalating in price.
Investment Tax Credit: $240 million. Businesses claim this credit for the purchase of new equipment, computers, etc., purchased to expand operations.
Small Business Alternate Tax Credit: $463 million. A means of sparing small businesses from taxation. It is likely to survive.
Earned Income Tax Credit: $353 million. A program that forgives state income tax liability for low-income Michiganders.
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