{"id":14522,"date":"2023-01-27T15:04:28","date_gmt":"2023-01-27T15:04:28","guid":{"rendered":"https:\/\/www.michamber.com\/?post_type=news&p=13775"},"modified":"2023-01-27T15:04:28","modified_gmt":"2023-01-27T15:04:28","slug":"eitc-receives-increase-of-30-relief-for-working-families-now","status":"publish","type":"news","link":"https:\/\/www.michamber.com\/news\/eitc-receives-increase-of-30-relief-for-working-families-now\/","title":{"rendered":"EITC Receives Increase, Relief for Working Families Now"},"content":{"rendered":"

Advocacy News – Jan. 27, 2023<\/strong><\/p>\n

The Michigan Chamber of Commerce, proud supporters for a state increase in the Earned Income Tax Credit (EITC), applauds the Michigan legislature for their swift, bipartisan action in passing House Bill 4002 and Senate Bill 3 to ensure working families receive financial relief right now. Both bills sponsored by Representative Nate Shannon and Senator Kristin McDonald Rivet respectively, increase the EITC from the current 6 percent to 30 percent beginning last year, 2022. Yesterday, the Michigan House passed HB 4002 by a vote of 100-8, and the Senate passed SB 3 by a vote of 27-11. One of the bills, likely HB 4002, will be taken up next week for a vote by the opposite chamber of the legislature and, if passed, will be sent to the governor for an expected signature.\u00a0<\/span>\u00a0<\/span><\/p>\n

The EITC was scaled back over a decade ago due to a lack of state funding and the inability to responsibly provide relief. With that in mind, our members strongly urge lawmakers to consider the funding mechanism required to support a substantial increase and to think critically regarding the best avenue to provide long-term relief.\u00a0 <\/span>\u00a0<\/span><\/p>\n

MI Chamber President and CEO, Jim Holcomb, provided to the Senate Committee on Housing and Human Services earlier this week a <\/span>memo in support<\/span><\/a> of increasing the EITC. This increase makes a direct impact on hard-working Michiganders but is simultaneously fiscally responsible to ensure sustained relief for years to come. Shared interest for all our members, and non-member businesses alike, is the current state-wide and national talent pipeline crisis and the tradeoff required to work while barriers to employability, like affordable housing and childcare, are at an all-time high. An increase in the state\u2019s EITC provides legislators, no matter the party, the opportunity to kick-off the 2023-2024 legislative session by giving back to taxpayers, while also building a more robust talent pipeline and boosting our economy.\u00a0 \u00a0 <\/span>\u00a0<\/span><\/p>\n

For questions contact Leah Robinson at <\/span>lrobinson@michamber.com<\/span><\/a>. <\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Advocacy News – Jan. 27, 2023 The Michigan Chamber of Commerce, proud supporters for a state increase in the Earned Income Tax Credit (EITC), applauds the Michigan legislature for their swift, bipartisan action in passing House Bill 4002 and Senate Bill 3 to ensure working families receive financial relief right now. Both bills sponsored by […]<\/p>\n","protected":false},"featured_media":0,"template":"","acf":[],"_links":{"self":[{"href":"https:\/\/www.michamber.com\/wp-json\/wp\/v2\/news\/14522"}],"collection":[{"href":"https:\/\/www.michamber.com\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.michamber.com\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":0,"href":"https:\/\/www.michamber.com\/wp-json\/wp\/v2\/news\/14522\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.michamber.com\/wp-json\/wp\/v2\/media?parent=14522"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}