• yourjizzx cum
  • Current Issues

    Michigan Senator, Carl Levin pleaded with president Obama in his Senate floor statement last Friday about how crucial the American Recovery and Reinvestment Act was for the state. He believes it is an, “essential step in stabilizing our economy,” and that passage of the Act, “will give us some urgently needed momentum.”

    President Obama signed the American Recovery and Reinvestment Act of 2009 into law Tuesday the 17th of February, after the House and Senate approved the conference report the prior Friday. The stimulus bill, which ended up coming close to 800 billion dollars, may be the beginning to helping the crashing Michigan economy.

    .

    Tax relief makes up the largest part of the package with 288 billion in funding. In Michigan it will be giving 3.9 million workers a tax cut. It will also help out by giving a tax credit to 120,000 families struggling with the cost of college tuition.

    The working class of Michigan will benefit from many different tax credits. One, which was introduced in the Act, the “Making Work Pay” tax credit will add on an additional 13 dollars to employees take home pay, to the sum of 400 dollars per person or 800 dollars per family. It is planned to show up on workers paychecks instead of in a large sum.

    For those out of work, the “Not Working” tax credit, will give 250 dollars to those who are unemployed, retired, or disabled.

    Those who are looking to buy their first home in Michigan will also be benefiting from the tax credits. There will be an 8,000 dollar credit, that’s not required to be paid back, for those who are buying or who bought after January 1, 2009. If a first time home buyer bought between April 9, 2008 and December 31, 2008 the credit will be 7,500 dollars and must be paid back within 15 years.

    There are also deductions on new car purchases, including a 7,500 dollar tax credit for families who invest in Hybrid cars. Also making the list, are deductions for energy saving installations, and 20 billion going to tax incentives for renewable wind energy.

    The hefty and detailed Act will be being monitored by the White House’s new website, Recovery.gov. Citizens are encouraged to stay informed and to track the spending of the package.

    Sources and Related Content.

    Levin's Floor Statement

    Speaker Nancy Pelosi

    Informationweek.com

    Mymoneyblog.com

    National Association of Realtors

    Internal Revenue Service

    Home
    Agriculture
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Commerce & Regulation
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Criminal Justice
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    In The Courts
    Timeline
    Employment
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Great Lakes & Recreation
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Energy and Environment
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Health Care
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    K-12 Education
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Morality and Family
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Political Reform
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Social Services & Seniors
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    State Budget
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Taxes
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Transportation
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline
    Urban Affairs
    Policy Briefs
    Current Issues
    National Context
    Interviews
    Blog
    Most Popular Posts
    Timeline

    About Us

    The Michigan Policy Network is a student-led public education and research program to report and organize news and information about the political process surrounding Michigan state policy issues. It is run out of the Department of Political Science at Michigan State University, with participation by students from the College of Social Science, the College of Communication, and James Madison College. 

    Read more about us...

    Sponsors

    Michigan State University    Department of Political Science 
     College of Communication Arts & Sciences    James Madison College
     College of Social Science    University Outreach and Engagement

     

    The thoughts, opinions, and positions represented herein are solely those of the participating students and in no way represent an official position or policy recommendation of Michigan State University.

    Our sponsors...

    Meet your Policy Fellow: Nicholas Biondolillo

    Nicholas Biondolillo is tax policy correspondent for the Michigan Policy Network. Nicholas is a first-year student in Engineering at Michigan State University.