Replacing the Michigan Business Tax with a flat corporate income tax would help Michigan improve 26 places in the Washington, D.C.-based Tax Foundation’s rankings, according to The Bay City Times.

Fiscal Policy Director Michael LaFaive testified before the state Senate Finance Committee Wednesday about the benefits of eliminating the MBT. He also said that replacing the tax with nothing could help create more than 120,000 jobs by 2016.

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Read his full testimony here.

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