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Today, I joined Senate Majority Leader Winnie Brinks, and Speaker Joe Tate to roll out the Lowering MI Costs Plan. Right now, the #1 concern for Michiganders is costs. This plan will put money back in people’s pockets and offer real, immediate relief to every taxpayer.
The Lowering MI Costs Plan will deliver the largest tax break to seniors and working families in decades by rolling back the retirement tax and quintupling the Working Families Tax Credit. It will also deliver inflation relief checks to every taxpayer. Getting this done will help people pay the bills as inflation eats into their monthly budgets.
The plan phases out the retirement tax over four years and will ultimately puts an average of $1,000 back in the pockets of 500,000 households. Lowering MI Costs will also equalize the exemption on both public and private pensions.
Working Families Tax Credit
The plan quintuples the Michigan Working Families Tax Credit match of the federal Earned Income Tax Credit (EITC) to 30%, up from 6%. It will deliver an average combined tax refund of $3,150 to 700,000 families, directly impacting nearly 1 million kids—almost half the kids in Michigan. Lowering MI Costs makes this boost retroactive for tax year 2022, meaning families will get more money in their pockets this year.
The plan will deliver $180 inflation relief checks to every Michigan tax filer, providing immediate relief by putting money back in pockets.
This is relief at a time when Michiganders need it most, and I am proud that we are hustling to get this done. Let’s keep working together to put Michiganders first.
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