State lawmakers seek to raise tax exemption

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Michigan taxpayers will be getting a break, but how much of a break remains the key question. The State House approved an increase in personal income tax exemption from the current $4,000 to $4800. The Senate has proposed raising the exemption to five-grand.. The House and Senate will try to work out their differences. The Governor, who preached fiscal responsibility during his State of the State speech this week, has proposed a $4500 exemption.