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Single Business Tax to be debated Wednesday

November 27, 2006

Michigan's Senate Finance Committee will hear testimony on tax replacements for the Single Business Tax on Wednesday afternoon.

Michigan lawmakers have about two more weeks in this session to find a replacement for the hotly debated Single Business Tax, which is set to expire in 2007.

Gov. Jennifer Granholm is asking the current Michigan Congress, which voted to remove the tax in August, to find a replacement tax before January.

The 1975 tax generates about $2 billion for the state's General Fund and was originally scheduled to expire in 2009.

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