Governor Gretchen Whitmer, Senate Majority Leader Winnie Brinks, and Speaker Joe Tate released the following statement after agreeing to a framework for the Lowering MI Costs plan that will deliver the largest tax break to Michiganders in decades and ensure that all taxpayers see relief.
The Lowering MI Cost plan will repeal the retirement tax to save 500,000 households an average of $1,000 a year, increase the Working Families Tax Credit to put an average of $3,150 back into the pockets of 700,000 Michiganders, and deliver inflation relief checks to all Michigan taxpayers.
“Michiganders sent a clear message in November. They want leaders who are going to get things done that help their families get ahead.
“Right now, inflation has driven the cost up on everyday goods, which is squeezing household budgets and forcing families to forego necessities. That’s why they sent us to Lansing to lower costs and put more money back into people’s pockets.
“We heard Michiganders loud and clear.”
“Today, we are excited to share details on the Lowering MI Costs plan, which is a bold relief plan that delivers the largest tax cut in decades to all taxpayers in Michigan. Under the Lowering MI Costs plan, we will end the retirement tax to save retirees $1,000 per year on average, immediately cut taxes for families making the least to put $3,150 back in their pockets each year, and send inflation relief checks to help every taxpayer in Michigan.
“It’s time to get this done because Michiganders deserve it, and with bipartisan support Michiganders will see more money in their bank accounts this year.”
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