Great Lakes Wire

Gov. Gretchen Whitmer (D-MI) has announced that the state has $3 billion in additional revenue for fiscal year 2022, upon completion of the Consensus Revenue Estimating Conference.

“Thanks to hardworking people, innovative small businesses and effective fiscal management, Michigan has $3 billion in additional revenue,” Whitmer said, according to Michigan.gov. “In the weeks and months ahead, I look forward to working across the aisle to utilize this additional revenue, pass a budget by June 30, as required by law, and sign a fourth balanced, bipartisan state budget as soon as possible. I proposed a budget in February, which would roll back the retirement tax and triple the Earned Income Tax Credit, make the highest per-student investment ever, continue rebuilding our infrastructure, spur economic development, back workforce development programs and lower costs.”

Whitmer hopes to push back the retirement tax in an effort to put roughly $1,000 back into state households, along with tripling the Michigan Earned Income Tax Credit to give 730,000 families a tax refund of up to $3,000.

“Right now, Michiganders from Macomb to Marquette are facing rising prices on food, gas and other everyday expenses. Yesterday, I proposed MI Tax Rebate Right Now, a plan to take advantage of our additional revenue and send a $500 tax rebate to Michigan’s working families,” Whitmer said, according to Michigan.gov. “This is a plan to offer real relief right now — not a year from now. People need money as soon as possible to pick up groceries and put gas in the car this weekend. If we work together, we can provide real relief right now, so families can pay the bills and put food on the table.”

Whitmer said that she believes bipartisan support in the budgeting process would continue to help working families.