Strong voter support for replacing lost PPT revenue; Snyder says ‘no’
Gov. Snyder said that he has no intention of fully replacing personal property tax (PPT) revenue if the tax is repealed, yet 61 percent of voters oppose an outright appeal of the PPT. The PPT generates approximately $1.27 billion statewide for schools and local governments.
EPIC/MRA polled 600 likely voters between October 1-4. Those polled expressed strong opposition to the PPT repeal when they were told that the money provided revenue to local governments and school districts. Only 28 percent supported outright repeal with no replacement of the lost revenue.
The tax is assessed on business equipment such as machinery, furniture and computers. Republicans want the tax eliminated because they say it discourages businesses from investing in equipment and technology needed to keep and create jobs.
The big issue is not so much the tax repeal, but whether the revenue lost would be replaced. Schools stand to lose $573 million if there is no replacement funding. In the EPIC poll, 32 percent said all revenues should be replaced while 20 percent wanted most of the revenue replaced. Sixty percent of those polled by EPIC said they would be less likely to vote for an incumbent legislator who voted to repeal the PPT and not replace any of the revenue.
Gov. Snyder has already signed a $1.8 billion tax break for businesses while slashing funding for schools. This is just another assault on public education – with still no new jobs for the state.