LANSING, Mich (WLNS) – It’s called the “Blueprint for Michigan’s Families” and if State House and Senate Democrats are saying today it’s designed to reverse what they say is “one of the largest tax shifts in Michigan history”.
The package of bills is geared to give tax breaks to families as the cost of living rises in Michigan. There are five focus points in the Blueprint.
– New $400 per-child tax credit for each child under 13 in households earning less than $100,00
– New dependent care tax credit for families with working parent(s) to offset child care costs or the care of an elderly parent
– Expanding Homestead Property Tax Credit to families earning up to $100,000. The current limit is $50,000.
– Seniors age 65 and older have first $2,500 in income exempted from taxation
– An employed Michigan resident could get a tax credit of up to 50 percent of the amount paid on state and federal higher education loans
Democrats estimate the a family with two kids who owns their own home and earns less than $100,000 could save up to $1,500 per year.
The tax shift to which the Democrats refer are the tax cuts they say Gov. Rick Snyder pushed for businesses. Democrats claim those $2 billion in tax cuts have not spurred job creation.
“The idea of giving big corporations a break to help the middle class was never the right decision, and we can see how it’s failed in Michigan,” state Senator Curtis Hertel Jr. said.