Advocacy News – March 3, 2023
This week, the Michigan Legislature sent House Bill 4001 to the Governor’s desk to increase Michigan’s Earned Income Tax Credit (EITC) from the current six percent to 30 percent. The Michigan Chamber was proud to support this effort to improve the workforce pipeline crisis here in Michigan.
The EITC is a refundable tax credit for low or moderate-income workers. It has garnered broad bipartisan support because it would benefit workers and businesses alike. For workers, it has a history of pulling people into the workforce and helping struggling families pay for necessities, especially now with historic inflation. And for employers, it helps provide an important incentive to work, all the more critical in today’s continuing talent shortage felt in every industry across the state, from Houghton to Holland to Highland Park and between.
The lack of available workers is slowing down production lines, causing businesses to change hours or services and products provided, and in some cases causing employers to go out of business. We remain hopeful the EITC will help move the needle by incentivizing potential employees to join the workforce and remain employed, boosting our local economies and communities.
For questions or more information, please contact Leah Robinson at lrobinson@michamber.com.