In Earned Income Tax Credit, In The News

The GOP-led Michigan Senate Finance Committee heard testimony Wednesday from numerous individuals backing a bill that would increase the Michigan Earned Income Tax Credit (EITC) from 6% to 10% by 2024.

The EITC aims to help low-wage earners get out of poverty and impacts families across Michigan.

Senate Bill 417, introduced by state Sen. Wayne Schmidt (R-Traverse City), would enable taxpayers to take a credit out of their individual income tax at a rate equivalent to the federal EITC in the same year.

Read more in Michigan Advance.