Live—from the campus of Hillsdale College in beautiful Hillsdale Michigan— this is Scot Bertram in for Steve on the Steve Gruber Show for
–Thursday, March 30th 2023—
—Here are 3 big things you need to know—
One — A bipartisan group of senators is pushing legislation to claw back compensation from executives after bank failures. Democratic Senators Elizabeth Warren and Catherine Cortez-Masto teamed up with Republican Senators Josh Hawley and Mike Braun to introduce the bill today. It would allow the FDIC to recoup up to five years' worth of compensation from executives at any bank that requires a federal takeover.
Two— The state's personal income tax rate will officially drop to four-point-zero-five percent for next year. State Treasurer Rachael Eubanks says the rate will fall from the current four-point-25 percent, but only for one year. The drop is due to a law in 2015 that called for the tax cut if revenues exceed a certain cap factored in inflation. Republicans argue the tax cut should be permanent.