Michigan Taxpayers still owe billions for corporate tax credits
A small number of companies that still collect on tax credits from the Michigan Economic Growth Authority are expected to receive $533.1 million more from the state than they owe in taxes this year, according to a Senate Fiscal Agency report issued in December. But the amount each company receives is being kept secret from taxpayers.
MEGA, created in 1995 but largely closed in 2011, offered financial incentives to companies in the name of economic development. They could receive tax credits based on the wages they pay workers at a facility covered by an agreement between themselves and the state. Although the state has stopped awarding new credits, Michigan is still paying out on deals that last up to 20 years.
Companies with MEGA deals file tax returns under the Michigan Business Tax, which lawmakers repealed and replaced with the corporate income tax in 2011. Eligible companies may still file under the old tax and receive any credits for which they are entitled. Click here to read more.
Kid Rock Tops Bad Bunny on iTunes Chart After Halftime Show Face-Off
On the day after TPUSA’s “All America Halftime Show,” Kid Rock has zoomed to the #1 spot on iTunes with his rendition of “‘Til You Can’t,” knocking Bad Bunny out of the top spot despite the Puerto Rican rapper’s appearance as the star of the NFL’s Super Bowl Halftime Show.
As February 9 dawned, Kid Rock’s version of “‘Til You Can’t” began rising in the iTunes chart closely followed by the original version of the song released by country singer Cody Johnson. By the afternoon, the two songs had pushed Bad Bunny’s song, “DtMF,” to third place.
Rock sang his rendition of “‘Til You Can’t” at the Turning Point USA “All America Halftime Show” on Sunday night. Click here to read more.
Waste watch: Illinois gives $1.5M to ICE opponents
Illinois state lawmakers allocated a $1.5 million grant to the Hispanic chamber of commerce for “operating expenses.”
Illinois Hispanic Chamber of Commerce President and CEO Jaime di Paulo is outspoken against deportations of business owners, and has written an open letter calling for amnesty. His organization also published a guide for navigating ICE raids for business owners, and offers resources for government audits and “unexpected immigration-related challenges.”
The chamber provides services to Hispanic business owners, but why should state taxpayers fund them? Chambers of commerce across Illinois are funded by member dues. State funding of one chamber and not another effectively subsidizes some businesses over others. Click here to read more.
Trump-backed voter ID bill unlikely to overcome Democratic resistance, experts say
President Donald Trump is pushing for the passage of a bill that would require voters to provide in-person proof of citizenship to register and an eligible photo identification to cast a ballot.
“America’s Elections are Rigged, Stolen, and a Laughingstock all over the World. We are either going to fix them, or we won’t have a Country any longer,” Trump said in a weekend social media post while calling on Republicans to support Texas rep. Chip Roy’s SAVE America act.
The bill is expected to get a House vote this week. Click here to reasd more.
Why Is Health Care Getting More Costly?
Americans have long lamented the high cost of health insurance, and the situation will soon get worse. Premiums for employer-sponsored insurance will go up by another 9 percent in 2026. Public spending on Medicare, Medicaid, and Obamacare is also surging.
This is not due to surging profits among insurers or hospitals. Insurance and entitlement programs are largely passing along the rising cost of care, even as average prices paid to hospitals, physicians, and drugmakers decline in real terms. The true driver is higher utilization of medical services—especially newly developed drugs and newly available outpatient procedures. Click here to read more.
