A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm
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Transcript of A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm
A Recovery Update for Michigan’s CitizensGovernor Jennifer M. Granholm
http://michigan.gov/recovery
The American Recovery and Reinvestment Act (ARRA) of 2009
President Obama signs ARRA on February 17, 2009
The largest investment increase in America’s roads, bridges and mass transit in 50 years
The most significant expansion in tax cuts for low- and moderate income households ever
http://michigan.gov/recovery
Michigan’s Economic Plan is in Place
Our plan aligns perfectly with President Obama’s goals:
Create jobs and diversify our economy
Educate and train our students and workers
Protect our citizens during tough times
ARRA will accelerate our plan
http://michigan.gov/recovery
How Will the Funds Come to Us?
Through existing programs
Competitive grants
Tax cutsVisit michigan.gov/recovery often for grant applications and the latest updates!
http://michigan.gov/recovery
The Impact for Michigan
Total estimated benefit for Michigan: $18 billion
Funding available for existing programs: about $7 billion
Will create or save 109,000 jobs over the next two years
What does the Recovery Act mean for me?
http://michigan.gov/recovery
Helping Families
$400 tax cut for workersearning less than $75,000 ($800 if filing jointly)
$5,656 credit (was $5,028) for families making up to 40,000/yr
$1,000 per-child tax credit for families making more than $3,000/yr (minimum was $12,550)
$250 payment to seniors and people with disabilities
First-time Home Buyer Tax Credit increased from $7,500 to $8,000
http://michigan.gov/recovery
Helping Jobless Workers
Eligibility extended by up to 13 weeks (maximum of 72 weeks)
$25 per week increase in unemployment benefits
First $2,400 in benefits now exempt from income tax
http://michigan.gov/recovery
Education & Training for Citizens
American Opportunity Tax Credit – up to $2,500 of college expenses will be tax deductible
Pell Grants – maximum award for low income students will increase from $4,850 to $5,350 this fall
In addition… No Worker Left Behind – Over 61,000
participants statewide since 2007
http://michigan.gov/recovery
Protecting Health Care
Pays for 65% of continued health coverage for citizens who have lost their jobs (COBRA)
Medicaid - significant funding boost (43,141 now enrolled in Saginaw County)
Michigan has received over $9 million for health clinics
http://michigan.gov/recovery
Helping Citizens Most in Need
Homelessness Prevention - $50 million in new funding, helping more than 11,000 families statewide
Food Stamp Benefits – about an additional $80 per month for a family of four (about 38,000 people in Saginaw County)
Women, Infants and Children – added funding
Emergency Food Assistance – increased aid to food banks, soup kitchens, food pantries and other local relief agencies
http://michigan.gov/recovery
Weatherization & Energy Conservation
Weatherization Assistance – a family of four making less than $44,000 can receive up to $6,500 for upgrades that save money on energy (up to 800 homes in Saginaw County)
$5.5 million in Saginaw
Energy Efficient Improvement Tax Credits – will triple maximum credit from $500 to $1,500
http://michigan.gov/recovery
Roads & InfrastructureFor the Tri-Cities area:
$55 million for ARRA-funded road projects; up to 1,523 jobs Saved City of Saginaw $1.8 million for M-13
reconstruction
Total $122 million for state-fundedroad projects; up to 3,390 jobs $60.7 million to rebuild
I-675 this summer (1,690 jobs)
http://michigan.gov/recovery
Investing in Public Safety Michigan law enforcement agencies are eligible
for $67 million to fight crime City of Saginaw: $842,803 Saginaw County: $57,731 Buena Vista Twp: $75,352 Saginaw Twp: $42,627
City of Saginaw will receive $1.6 million for neighborhood stabilization/property demolitions
150 properties in Saginaw demolished during 2007 and 2008
http://michigan.gov/recovery
On the Web… White House Recovery Portal:
http://recovery.gov State of Michigan Recovery Portal:
http://michigan.gov/recovery Michigan Community Service
Commission:http://michigan.gov/mcsc
United Way of Saginaw Countyhttp://www.unitedwaysaginaw.org/