Newsbrief: Michigan sales plunge following tax hike
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Michigan data shows sales plunged in January, the first month when a new 24% tax was in place. Total REC sales were just below $226.4M in January, down 8.2% year over year and the lowest monthly total since February 2023.
Gov. Gretchen Whitmer had advocated for the 24% wholesale tax as a way to raise up to $420M for road repairs. Some of the January decline may have reflected consumers stocking up before the tax . . .
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