In News Releases, Tax and Budget

For Immediate Release
Jan. 13, 2023

Contact:
Laura Ross
lauramr@mlpp.org
517-281-1084

Consensus estimates show need for investment in Michigan’s people

With potential risks in the economic forecast, League calls for investment to tackle 2024 state budget priorities that center Michiganders who struggle to make ends meet

LANSING—The Michigan League for Public Policy issued the following statement on today’s Consensus Revenue Estimating Conference (CREC). It can be attributed to League President and CEO Monique Stanton. The League also released an overview of The People’s Budget, which sets priorities for the 2024 state budget.

“Today’s estimates highlight some risks in the forecast, and concerns over an economic contraction show the need to invest now in effective programs–like the EITC– that help keep working Michiganders and families afloat. Despite high tax revenues last year, a 2015 law requiring an income tax rate cut when general fund revenue substantially exceeds inflation may have been triggered, which would make it more difficult to pay for the goods and services our communities need in the coming years. So as policymakers work to craft their budgets in the coming weeks and months, we hope they’ll put the people they serve, not wealthy corporations, at the center of their work,” said Monique Stanton, President and CEO of the Michigan League for Public Policy.

“What we need are investments and targeted support for folks with lower incomes—like boosting the Earned Income Tax Credit, improving access to child care, housing, food and healthcare, and improving cash assistance for Michiganders living in poverty. Based on today’s estimates, we can accomplish all of these things and more for the people of Michigan, but that means policymakers must prioritize the people of Michigan. We hope Thursday’s enthusiastic support from the governor and legislative leaders for an EITC increase is a sign that families, workers and children will be centered in the 2024 state budget,” said Monique Stanton, President and CEO of the Michigan League for Public Policy.

BACKGROUND:

Today the Michigan League for Public Policy published its overview of priorities for the 2024 state budget. Called “The People’s Budget,” the priorities target investments that will improve outcomes for Michiganders who struggle to make ends meet.

The League also released a statement on Thursday in response to new bills introduced in the House and Senate that aim to boost the state Earned Income Tax

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The Michigan League for Public Policy, www.mlpp.org, is a nonprofit policy institute focused on opportunity for all. Its mission is to advance economic security, racial equity, health and well-being for all people in Michigan through policy change. It is the only state-level organization that addresses poverty in a comprehensive way.