 senate gop offers alternative michigan tax plan retirees in michigan currently receive a tax exemption on public pensions and up to 45120 for each individual from private pensions 401 k s and iras governor snyder s budget proposal recommends imposing taxes on these pensions beginning in october to help offset a 17 billion cut in business taxes but senate republicans have come up with an alternate proposal that would eliminate the need to tax pensions and instead raise the money in other ways read the full story at  wwwlansingstatejournalcom article 20110326 news04103260322 senategopoffersalternativemichigantaxplan 46  senate gop offers alternative michigan tax plan  