While residents continue to struggle with the higher cost of living in our state, property taxes that continue to go up while our home values go down; and with unemployment in our state at 8.9 percent; the Michigan Legislature voted on an energy plan that will increase our electricity rates by up to 12 percent and puts a cap on competition. The bill also allows utilities to charge customers for new plant construction before the plants are operational. Under the current law, utility companies cannot increase rates before the plants are in service. Raising our electric rates will make it harder for individuals who have lost their jobs and for struggling families to pay their bills. First there was the $1.35 billion tax hike that was enacted in 2007. Then the Michigan Business Tax which hurts small businesses within our community and state. Now an increase of nearly 12 percent in our electric rates!
You can read the article detailing the legislation that was passed here at the Detroit News: http://www.detnews.com/apps/pbcs.dll/article?AID=/20080919/METRO/809190377/1409/METRO
The residents in our community and our states deserve better. We need to lower taxes, less regulation and provide property tax relief.
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