(WWJ) - Governor Gretchen Whitmer made a sweeping number of proposals Wednesday night during her State of the State address in an effort to keep more money in the hands of Michiganders and their families.
The governor's list of plans covered everything from cutting taxes for retirees and working families to lowering the cost of electric vehicles and insulin. Whitmer said her office is committed to making sure costs stay down.
Related
Whitmer announced on Wednesday night plans to increase the state's Earned Income Tax Credit (EITC), which would see 730,000 residents keep a combined tax refund of about $3,000. Whitmer said the combined state and federal EITC would help an estimated 22,000 people out of working poverty and allow them the freedom to purchase groceries, pay bills, and work towards their financial goals.
Seniors would have a similar tax break -- Whitmer further announced plans to repeal the state's retirement tax to help retirees "keep all of their hard-earned dollars."
Rolling back Michigan's retirement tax would include tax on all senior income, such as pensions, 401(k) accounts ad IRAs. Her office estimates retirees would see a savings of up to $1,000 a year.
Whitmer hopes to save Michiganders money right down to the types of vehicles they buy. She said people across the state would see $10,000 off their purchase price of an electric vehicle or plug-in hybrid car with her proposed state rebate along with a federal tax credit.
The governor said purchasing an electric vehicle would not only save families an average of $6,000 to $10,000 in maintenance and gas costs over the lifetime of the car, but also support thousands of auto jobs in Michigan and keep up with environmental standards.
Related
Whitmer plans to fight costs on the healthcare side as well by teaming up with state Attorney General Dana Nessel. Together, the two women said they are committed to bringing down the cost of insulin for many Michiganders who depend on the life-saving drug.
"Too many Michiganders are forced to ration insulin or forgo it, putting their lives at risk," stressed Whitmer. "Some families spend thousands of dollars a year on insulin and prices keep going up—they’ve tripled from 2009 to 2019."
According to Nessel, insulin has reached $100 a bottle making the drug financially inaccessible to some who depend on it. Her office announced on Wednesday they were launching investigation into Eli Lilly -- one of the three largest manufactures of insulin in the U.S. -- and is working to hold companies responsible for their "egregious prices."
"I support Attorney General Nessel’s efforts to use the Michigan Consumer Protection Act to put Michiganders first by investigating the role drug companies play in raising prices," Whitmer said.
The governor has plans moving forward to address the rising drug cost with state legislature and seeks to cap the price of insulin at $50 a bottle.
Information on all of the governor's planned proposals can be found through the michigan.gov website.