FINANCIAL NEWS
$180 inflation relief checks in Michigan: Who qualifies and when will the payments arrive?
A number of measures have been announced with the aim of paying some of residents’ tax burdens back to them in 2023.
As part of the proposed Lowering MI Costs plan, Michigan Governor Gretchen Whitmer has proposed repaying income tax-paying residents with a rebate from state funds. The state in the Great Lakes is anticipating a huge budget surplus with billions dollars left unspent, hence the plan to give back.
The “inflationary rebate check” means everyone who filed an tax return for the last fiscal year would be eligible to receive the money. There are scant details but it has been supposed that those filing as couples would only receive one check. There is no information about how dependents relate to the funds.
The Lowering MI Costs plan has two more aspects which includes extra funding for children as well as cutting taxes for retired residents.
When will Michiganders see this money?
At present all the announced plans are just that: plans. While Governor Whitmer may want to enact them all now they must be voted upon and ratified by the state legislature. There is an expectation that Whitmer will be able to get the tax rebates through fairly easily due to the Democrat dominance in the legislative as well as executive arms of the Michigan government.
The earliest the checks could be sent is the spring and more information is to be released over the next week.