GENERIC: Gov. Rick Snyder

Gov. Rick Snyder has vetoed bills that would have granted tax breaks to people who save money for the first-time purchase of a home.

The governor says promoting home ownership is a "laudable objective." But he says he doesn't want to favor some taxpayers over others. His veto letter was released Friday.

The bills won wide support among Democrats and Republicans in the Legislature. Real estate agents, bankers and the Michigan Chamber of Commerce were in favor of the legislation.

The bills would have granted tax deductions to people who socked away money in a home-savings account. Withdrawals would have been tax-free. The program would have been open to anyone, regardless of income.

Copyright 2018 Associated Press. All rights reserved.

Locations

Recommended for you

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Share with Us. We'd love to hear eyewitness accounts, the history behind an article.