LANSING, Mich., June 2, 2022 — The Michigan House of Representatives voted in favor of House Bill 4568 to provide tax relief for Michiganders by cutting $2.7 billion in income and property taxes. This bill would decrease the income tax rate, raise the personal exemption on income taxes, add a new $500 per child tax credit and expand the earned income tax credit (EITC). State Rep. Shri Thanedar (D-Detroit) has focused on assisting struggling Michigan families facing rising prices due to inflation and supply chain issues.
“These tax cuts directly assist families throughout Detroit. Michiganders continue to feel the negative effects of inflation on their finances,” Thanedar said. “These tax cuts help reduce further financial strain. Michiganders deserve relief.”
Not only does House Bill 4568 focus on civilians in Michigan, it also provides income tax relief to disabled veterans and their families. Tax credits to disabled veterans would include widows and widowers of disabled veterans or those killed in duty.
“The veterans and spouses have sacrificed so much to defend this country. These tax breaks are only a small token in addressing the many struggles veterans and their families endure,” Thanedar said. “It is my utmost priority to advocate for veterans and their families who have paid the ultimate price.”