LANSING, Mich. (AP) — Gov. Gretchen Whitmer will ask lawmakers to triple Michigan’s tax credit for low- and moderate-income workers, putting on average an extra $350 a year into their pockets.
The proposal is to be unveiled in the Democratic governor’s State of the State address Wednesday. It would restore the state earned income tax credit to 20% of the federal credit.
It was scaled back to 6% a decade ago as part of a Republican-written law that slashed business taxes.
The refundable credit helps more than 730,000 families a year. They get an average credit of $150, which would rise to roughly $500 under Whitmer’s plan.