Supplemental Funding, Tax Reforms Signed Into Law

Liz Gullett

Mar 10, 2023

This week, Governor Gretchen Whitmer signed two pieces of legislation into law. The first bill, the Lowering MI Costs plan, phases out the retirement tax over four years and equalizes the exemption on both public and private pensions. Additionally, it increases the Working Families Tax Credit match of the federal Earned Income Tax Credit from 6% to 30%. According to the governor’s office, the reforms will cut taxes by $1 billion for taxpayers in the state.

The second bill appropriates $1.3 billion in funding. The appropriation includes $600 million for a new EV battery plant in Calhoun County, a $170 million deposit into the Strategic Outreach and Attraction Reserve Fund and $75 million to recruit, retain, and train health care providers.

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