NHT Drawdowns Will Only be Done if Necessary – Senator

first_img Leader of Government Business in the Senate, Hon. Kamina Johnson Smith, is reassuring that drawdowns to support the budget will only be taken from the National Housing Trust (NHT) if deemed crucial. Leader of Government Business in the Senate, Hon. Kamina Johnson Smith, is reassuring that drawdowns to support the budget will only be taken from the National Housing Trust (NHT) if deemed crucial.“It is not intended if it is not necessary, that all four years will be utilized,” Senator Johnson Smith said, while addressing the Senate on July 21.She was piloting the National Housing Trust (Amendment) Act, 2017, which makes provisions for these drawdowns.The Bill allows the Government to continue the withdrawal of $11.4 billion from the NHT over the next four years. It was passed in the Senate with no amendments.Mrs. Johnson Smith explained that this arrangement is one of the revenue measures adopted to contribute to financing the Government’s budget for fiscal year 2017/18.She explained that it is in keeping with the previous Extended Fund Facility with the International Monetary Fund (IMF), which supported the Government’s economic reform programme.Provisions were made for prior drawdowns through an amendment to the NHT Act, which came to an end in March of this year. The new Bill sought to renew this arrangement.Senator Johnson Smith pointed out that the Government was reluctant in opting for this revenue measure, but argued that without this being put in place, the Government would be forced to levy new taxes.“This measure must be viewed against the background of fundamental tax reform, (that is) the continued shift from direct to indirect taxes….for purposes of equity and the need to create the breathing space over the medium term to undertake public spending reforms, which will take time to implement and the benefit of which will only occur in the medium term,” the Minister said.“Furthermore, it certainly would be undesirable to cut expenditure on important programmes which are of benefit to the country,” she added.The NHT drawdowns are expected to continue until the financial year ending March 31, 2021. “Furthermore, it certainly would be undesirable to cut expenditure on important programmes which are of benefit to the country,” she added. Provisions were made for prior drawdowns through an amendment to the NHT Act, which came to an end in March of this year. The new Bill sought to renew this arrangement. Senator Johnson Smith pointed out that the Government was reluctant in opting for this revenue measure, but argued that without this being put in place, the Government would be forced to levy new taxes. Story Highlightslast_img read more

Rep Kahle plan will make implantable medical devices more affordable for Michigan

first_img Categories: Kahle News,News ##### State Rep. Bronna Kahle this week introduced a plan to clarify state law and ensure implantable medical devices are exempt from Michigan’s 6 percent sales and use tax — ultimately making vital health-related procedures less expensive for patients.Kahle said her proposal will clarify Michigan law to ensure patients are not paying for additional taxes when they need surgically implanted devices such as joint replacements, hip implants, and spinal stimulators for pain management. Kahle said the clarification is needed because of recent changes in policy from the Michigan Department of Treasury.The original intent of Michigan law was to keep the devices tax exempt and this measure is needed to help keep health care affordable in Michigan, Kahle said.“Adding taxes on these devices raises costs for health care providers – costs ultimately passed along to the patients paying the bills, either through out-of-pocket charges or higher insurance premiums,” said Kahle, of Adrian. “Making sure these vital devices are not taxed will lower costs and help make sure more Michigan residents get the help they need to lead healthier, happier lives.”Other types of prosthetic devices – including eyeglasses, hearing aids and walkers – are excluded from Michigan’s sales and use tax and Kahle’s plan is consistent with how other prosthetics are treated in Michigan.  In 2017, Kahle successfully passed a new law that added dental prosthetics such as crowns, bridges and dentures to that list.Kahle’s new legislation is House Bill 4204. Along with House Bill 4203, the legislation has been referred to the House Tax Policy Committee for consideration.center_img 22Feb Rep. Kahle plan will make implantable medical devices more affordable for Michigan patientslast_img read more