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The latest Small Business Briefing, hosted by Brian Calley and Sarah Miller, delivered crucial updates for Michigan’s small business community.
Invest in My Kids Proposal Suspended
The “Invest in My Kids” (MI Kids) graduated income tax proposal, which raised concerns for pass-through businesses, has suspended its signature collection after falling short of the required threshold. While the immediate risk of a ballot initiative this fall has subsided, organizers plan to try again in the future, so the issue remains on the radar for small business owners.
Federal Reserve Interest Rate Outlook
The Federal Reserve recently held interest rates steady, signaling a cautious, data-driven approach amid global uncertainty, especially due to Middle East conflicts and rising energy costs. While markets anticipate a possible rate reduction later in the year, no immediate changes are expected.
Travel Disruptions Due to Partial Government Shutdown
A partial federal government shutdown has led to missed paychecks for TSA agents, resulting in absenteeism and resignations. Major airports are experiencing significant delays, and the situation could worsen if a funding deal isn’t reached soon. Travelers are advised to arrive early and prepare for possible disruptions, especially during the busy spring break period.
Physician Licensing Crisis Averted
Michigan narrowly avoided a major disruption in healthcare by passing legislation to extend physician licensing through the Interstate Medical Licensure Compact. This ensures thousands of doctors can continue practicing without interruption, following legislative disagreements that were resolved just in time.
Sales Tax on Services Proposal
No new developments have occurred regarding the proposed sales tax on services. The business community remains vigilant, awaiting the introduction of a bill to assess its potential impact.
Consumer Protection Act Clarification
New legislation has been introduced to prevent double regulation of industries already licensed by the state. The bill, supported by SBAM, aims to ensure businesses are regulated under either the Consumer Protection Act or their specific licensing body, but not both.
Election Watch 2026: Gubernatorial and Senate Races
The gubernatorial race is heating up, with increased spending and activity among Republican candidates, while Jocelyn Benson leads on the Democratic side. The open U.S. Senate seat is also highly competitive, especially among Democrats, with Michigan poised to be a key battleground in the upcoming elections.
Upcoming Events
SBAM invites members to the Michigan Celebrates Small Business events, including a summit, pitch competition, Capital Day, and a gala honoring over 90 small business owners. Details are available at michigancelebrates.org.
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