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A Financial Touchdown for Struggling Families
It’s not every day you hear about a policy play that’s as game-changing as a last-second touchdown. But that’s exactly what’s happening in Michigan, thanks to the Senate Democrats’ Working Families Tax Credit. This move, which quintuples the state’s match of the federal Earned Income Tax Credit (EITC) from 6% to a whopping 30%, is set to put more cash in the pockets of around 700,000 Michiganders.
The Lowering MI Costs Plan: Tackling Financial Hardships
Part of the grandly titled Lowering MI Costs Plan, this tax credit boost is just one piece of a larger effort aimed at taking on rising costs and economic strain. Think of it as the state’s way of blocking high fuel prices and supply chain issues from tackling family budgets.