Detroit Evening Report, May 20, 2022: Michigan Legislature proposes more than $2.5 billion in tax cuts
Welcome to the Detroit Evening Report, a daily round-up of news that city residents need to know.
The Michigan Legislature is proposing more than $2.5 billion in tax cuts. The Michigan Public Radio Network reports the plan would lower income taxes from 4.25% to 4%. It would also provide a $500 child tax credit and raise the earned income tax credit. The legislation does not include the separate $500 tax rebate that Gov. Gretchen Whitmer proposed for “working families.” The governor did not offer details on who would qualify. Many of the cuts would not take effect until the next fiscal year, which starts Oct. 1. The GOP-led plan is the latest attempt by lawmakers to return billions of dollars to residents amid a massive and unexpected surplus, largely due to federal pandemic relief funding.
Other headlines for May 20, 2022:
- City of Detroit is providing free rapid COVID-19 testing and antiviral pills
- U.S. Senate OKs legislation to address baby formula shortage for families on WIC
- Parts of the U.S. power grid face high risks of outages this summer, including Michigan
- Detroit to roll out new fleet of electric buses on Monday
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