Gov. Whitmer signs Lowering MI Costs Plan
LANSING, Mich. (WILX) - Tuesday Governor Gretchen Whitmer signed the Lowering MI Costs plan into law. The plan delivers a $1 billion tax break to seniors and working families and will roll back the retirement tax to save 500,000 households an average of $1,000 a year.
It also quintuples the Working Families Tax Credit to put an average refund of $3,150 back into the pockets of 700,000 Michiganders.
The signing was originally set for Feb. 14 but was postponed following the mass shooting at Michigan State University on the night of Feb. 13.
Later on Tuesday afternoon, Gov. Whitmer will present the Fiscal Year 2024 Budget Recommendation.
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