State Rep. Jim Tedder of Clarkston today introduced legislation to give seniors much-needed relief on their Michigan income taxes.
Tedder’s bill would provide a $100 refundable income tax credit for a single filer age 62 or older. The credit would be $200 for joint filers.
“As Michigan continues to experience budget surpluses, it’s an exciting time to talk about tax relief,” Tedder said. “With health and good fortune, we one day will all become senior citizens. Why not provide tax relief at a time in life when people need it most, when many are on fixed incomes? It’s time we provided real tax relief to the people who have shouldered Michigan’s financial burden for decades.”
Tedder’s bill is part of a broad legislative package designed to bring meaningful tax relief to Michigan families.
Other legislation in the package ensures Michigan taxpayers can continue claiming personal exemptions on income taxes after federal tax reforms signed into law last month. In addition, today’s proposal increases the state personal exemption from the current $4,000 to $4,300 for the 2018 tax year, with gradual increases reaching $4,800 for 2020.
Another bill ensures taxpayers in Michigan cities with an income tax will continue to be able to claim exemptions if the city adopts a uniform ordinance.
“The changes made at the federal level last month were a positive step in the right direction, and we are removing any possible ambiguity to make certain Michigan taxpayers will continue to receive exemptions on their income taxes,” Tedder said. “And importantly, we are going much further to provide even more tax relief for Michigan families and seniors.”
House Bills 5420-22 were referred to the Tax Policy Committee for consideration.