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Here’s how COVID-era policies bolstered economic security for Michigan children The fund coordinates public and private resources to meet the affordable housing needs of low income, very low income and extremely low income households and to revitalize downtown areas in Michigan.Īccording to the report, over a quarter of Michigan households pay over 30% of their income on housing costs.
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The MLPP also pointed to another COVID-era policy change that benefited children - the state reinstating funding of the Housing and Community Development Fund. Gretchen Whitmer earlier this month, set aside $7 billion that will be negotiated with the GOP-led Legislature for potential tax changes, including increasing the state EITC. The state’s Fiscal Year 2023 budget, which was signed by Gov. “If those increases and extensions aren’t continued, there is a real fear around the need for children and families,” Perdue said. Perdue said that change in the state EITC could equal a $600 increase in credit to working people. To see continued benefits for Michigan children, the League recommends that Congress make these changes to the federal CTC and Earned Income Tax Credit permanent and state lawmakers raise Michigan’s Earned Income Tax Credit, which is currently at 6% of the federal tax credit, to 30% of the federal tax credit. Eligibility for the EITC was expanded in recent years to allow people who were unemployed during the pandemic to file their 2019 income when applying for the credit. The federal and state Earned Income Tax Credit (EITC) also were expanded to over 500,000 working adults in Michigan. The MLPP says this increased credit lifted 114,000 Michigan children out of poverty and benefited another nearly 2 million kids across the state. Namely, the federal child tax credit, which was included in President Joe Biden’s pandemic stimulus package last year, was increased and extended to children in families with low or no earnings, and advance monthly payments were provided to increase income stability. “We were in the midst of a pandemic, and there were a lot of COVID-era policy changes that really benefited children and families, particularly as it relates to economic security.” This year is no different,” said Kelsey Perdue, Kids Count in Michigan Director for the MLPP. “We saw pre-COVID that we were trending in the right direction around measures of economic security.