Michigan Tax Credit For Low-Wage Earners May Be EliminatedHouse Republicans voted last week to end the earned income tax credit as part of a $1.2 billion road-funding plan, saving at least $115 million a year.
'If We Are Filling Potholes At Expense Of The Poor' Lawmaker Says He Can't Support Road Funding Bills"This is an exercise in needs and wants," said the creator of the package.
Republican-Led House OKs Michigan Road-Funding PlanMost bills were approved primarily along party lines Wednesday in the Republican-controlled House.
House Committee To Vote On Michigan Road Funding PackageThe bills have been criticized because they would eliminate the Earned Income Tax Credit for low-income working families.
Michigan House Committee Looks At Eliminating Tax Credit To Fund RoadsBackers say the overall package would eventually generate at least $1 billion a year for funding the roads.
What Is Earned Income Tax Credit (EITC)?Geared primarily towards low-to-middle income, working individuals and families, the Earned Income Tax Credit (EITC) is a federal benefit able to provide relief to those who meet specific criteria, by reducing the amount of tax owed and by increasing the amount of tax monies refunded, as determined after filing. Both single and married people can benefit from EITC, regardless of whether or not they have children or other dependents.
Best Tax Credits And Deductions Everyone Should Know AboutDon't miss out on some valuable tax credits and deductions. Here are a few of the most commonly missed credits, which could end up saving you a bundle.
Opinion: Romney Denigrates 47% Not Paying Taxes As He Uses Loopholes Trying To Do The SameMitt Romney, if you want to talk about mooches and freeloaders that take advantage of the system then grow a spine and show America your tax returns. Let's see what you really pay as a percentage. Let's see what deductions you take. Let's see how addicted to federal benefits you are.
Opinion: Romney's 47% Don't Pay Taxes Remark Shows He's Exactly Who We Thought He WasThe recently released tape of Romney speaking to donors at a closed door fundraiser has exposed Mitt Romney to, in fact, be the person Democrats have portrayed him to be: a rich, out of touch, arrogant man that has no respect or connection to the American middle class and absolutely no interest in making the American middle class stronger.
Study: Taxes Rising On Poor, Tax Breaks For BusinessA new study says Michigan is among just a handful of states raising taxes on low-income working families to finance tax cuts for other groups.
Citizens Voice Concerns About Tax Credit CutsMore than a dozen meetings have been held around Metro Detroit and the state giving the public a chance to speak out about the governor's budget plan and how it will impact them.