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A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm

A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm. President Obama signs ARRA on February 17, 2009 The largest investment increase in America’s roads, bridges and mass transit in 50 years

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A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm

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  1. A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm

  2. President Obama signs ARRA on February 17, 2009 The largest investment increase in America’s roads, bridges and mass transit in 50 years The most significant expansion in tax cuts for low- and moderate income households ever The American Recovery and Reinvestment Act (ARRA) of 2009

  3. Our plan aligns perfectly with President Obama’s goals: Create jobs and diversify our economy Educate and train our students and workers Protect our citizens during tough times ARRA will accelerate our plan Michigan’s Economic Plan is in Place

  4. Through existing programs Competitive grants Tax cuts How Will the Funds Come to Us? Visit michigan.gov/recovery often for grant applications and the latest updates!

  5. Total estimated benefit for Michigan: $18 billion Funding available for existing programs: about $7 billion Will create or save 109,000 jobs over the next two years The Impact for Michigan What does the Recovery Act mean for me?

  6. $400 tax cut for workersearning less than $75,000 ($800 if filing jointly) $5,656 credit (was $5,028) for families making up to 40,000/yr $1,000 per-child tax creditfor families making more than $3,000/yr (minimum was $12,550) $250 payment to seniors and people with disabilities First-time Home Buyer Tax Credit increased from $7,500 to $8,000 Helping Families

  7. Eligibility extended by up to 13 weeks (maximum of 72 weeks) $25 per week increase in unemployment benefits First $2,400 in benefits now exempt from income tax Helping Jobless Workers

  8. American Opportunity Tax Credit – up to $2,500 of college expenses will be tax deductible Pell Grants – maximum award for low income students will increase from $4,850 to $5,350 this fall In addition… No Worker Left Behind – Over 61,000 participants statewide since 2007 Education & Training for Citizens

  9. Pays for 65% of continued health coverage for citizens who have lost their jobs (COBRA) Medicaid - significant funding boost (43,141 now enrolled in Saginaw County) Michigan has received over $9 million for health clinics Protecting Health Care

  10. Homelessness Prevention - $50 million in new funding, helping more than 11,000 families statewide Food Stamp Benefits – about an additional $80 per month for a family of four (about 38,000 people in Saginaw County) Women, Infants and Children – added funding Emergency Food Assistance – increased aid to food banks, soup kitchens, food pantries and other local relief agencies Helping Citizens Most in Need

  11. Weatherization Assistance – a family of four making less than $44,000 can receive up to $6,500 for upgrades that save money on energy (up to 800 homes in Saginaw County) $5.5 million in Saginaw Energy Efficient Improvement Tax Credits – will triple maximum credit from $500 to $1,500 Weatherization & Energy Conservation

  12. For the Tri-Cities area: $55 million for ARRA-funded road projects; up to 1,523 jobs Saved City of Saginaw $1.8 million for M-13 reconstruction Total $122 million for state-fundedroad projects; up to 3,390 jobs $60.7 million to rebuild I-675 this summer (1,690 jobs) Roads & Infrastructure

  13. Michigan law enforcement agencies are eligible for $67 million to fight crime City of Saginaw: $842,803 Saginaw County: $57,731 Buena Vista Twp: $75,352 Saginaw Twp: $42,627 City of Saginaw will receive $1.6 million for neighborhood stabilization/property demolitions 150 properties in Saginaw demolished during 2007 and 2008 Investing in Public Safety

  14. White House Recovery Portal:http://recovery.gov State of Michigan Recovery Portal:http://michigan.gov/recovery Michigan Community Service Commission:http://michigan.gov/mcsc United Way of Saginaw Countyhttp://www.unitedwaysaginaw.org/ On the Web…

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