LANSING, Mich. — Sen. Michael D. MacDonald on Thursday voted to approve legislation to provide Michigan families, seniors and veterans with $2.5 billion in tax relief.
“People in Macomb County and throughout our state are facing real challenges — from ongoing effects of the pandemic to inflation that increases the costs of everything from gas to groceries,” said MacDonald, R-Macomb Township. “Responsible Republican leadership has put our state in a very good financial position and it’s time to turn our state’s historic budget surplus into historic meaningful ongoing tax relief for those who need it most, especially struggling families and those who are on fixed incomes.”
The MI Family Inflation Relief Plan would help every Michigander by lowering the state’s income tax to 4% and increasing the personal income tax deduction by $1,800. It would also support Michigan families by creating a $500 tax credit for each child under the age of 19.
House Bill 4568 and Senate Bill 784 would also increase the tax exemption for Michigan seniors over 67 to $21,800 for individuals and $43,600 for couples and ensure Michigan’s fully disabled veterans and the spouses of those lost in combat receive a 100% property tax exemption.
“The MI Family Inflation Relief Plan will help all Michiganders to build a brighter future for themselves and our state,” MacDonald said. “There is hope on the other side of today’s economic challenges and I hope the governor will join the Legislature in providing real and meaningful tax relief to the people of Michigan.”