Michigan House OKs $2.5B tax plan with income tax cut, senior exemptions, child tax credit

The Detroit News. March 2022. The Michigan House approved a $2.5 billion tax reduction plan that will create a $500 Child Tax Credit (CTC) while cutting personal income tax rates and offering tax exemptions to seniors. However, Governor Gretchen Whitmer’s office argues the plan is financially unsustainable and would result in tax spikes or cuts in community funding and is pushing for a separate plan that includes expanding the state’s Earned Income Tax Credit (EITC).

Michigan House OKs $2.5B tax plan with income tax cut, senior exemptions, child tax credit