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Lawmakers passed a bill on Tuesday that delivers a $1 billion tax break to seniors and working families and rolls back the retirement tax.

Gov. Gretchen Whitmer’s office said the Lowering Michigan Costs plan will save 500,000 households an average of $1,000 a year and quintuple the Working Families Tax Credit to give 700,000 Michigan citizens an average refund of $3,150.

The bill also includes an increase of the state Earned Income Tax Credit from 6% to 30% of the federal tax credit.

Read more at WLNS.