Michigan will distribute payments worth an average of $550 to eligible residents in one day as part of an expansion to the state’s working families tax credit.
Roughly 700,000 households are slated to receive checks beginning Tuesday. The payments will be sent out on a rolling basis over five to six weeks, according to state officials.
Residents who qualify for the working families tax credit will automatically receive the check, with no additional paperwork required.
Eligible households receiving the check will get a payment equal to the difference between the 6% working families tax credit included in an eligible resident’s 2022 tax refunds and the 30% value that the credit is now worth.
The expanded tax credit is set to give eligible residents an average $3,150 tax refund for 2022, according to the state. The 30% rate for the working families tax credit will be part of regular tax refunds going forward, beginning with tax year 2023.
“By quintupling the working families tax credit, we’re putting an average of $550 back in the pockets of 700,000 Michigan families ahead of schedule,” Gov. Gretchen Whitmer (D-MI) said in a statement about the expanded tax credit.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
“This directly benefits half the children in Michigan, and moms and dads can use this extra money at tax time to pay the bills, put food on the table, and buy school supplies,” she added.
The state offers more details about the working families tax credit on the Michigan Department of Treasury website.
