LANSING (WWJ) -- Governor Gretchen Whitmer is proposing to triple Michigan's tax credit for low and moderate income workers, which will put, on average, an extra $350 a year into their pockets.
This would restore the state earned income tax credit to 20% of the federal credit.
A decade ago the credit was scaled back to 6% as part of a law that slashed business taxes.
The refundable credit currently helps more than 730,000 families a year who get an average credit of $150. This amount would rise to roughly $500 under Whitmer's plan.
The proposal is expected to be unveiled in Whitmer's State of the State address Wednesday.
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