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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 Protecting Families

  7. Eligibility extended by up to 13 weeks (maximum of 72 weeks) $25 per week increase in unemployment benefits For a family of four making less than $40,000, about an additional $80 per month in Food Assistance (39,465 people rely on Food Assistance in greater Lansing) 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. Weatherization Assistance – a family of four making less than $44,000 can receive up to $6,500 for upgrades that save money on energy $7.8 million in greater Lansing; 1,150 homes Energy Efficient Improvement Tax Credits – will triple maximum credit from $500 to $1,500 Weatherization & Energy Conservation

  10. $2.2 billion statewide for: Special education Programs for at-risk students Mitigating budget cuts $20 million for Head Start Helping Schools

  11. Pays for 65% of continued health coverage for citizens who have lost their jobs (COBRA) Significant Medicaid funding boost (42,908 now enrolled in Ingham County) $1.3 million for the Ingham County Health Department – serving 4,766 people and creating 52 jobs Providing Health Care

  12. Home Affordable Refinance Program Provides access to low-cost refinancing forhomeowners suffering from falling home prices For homeowners with Freddie Mae orFreddie Mac loans Must be current on mortgage payments Home Affordable Modification Program Can reduce mortgage payments to make them more affordable For mortgages up to $729,750 Incentive for homeowners to stay current Incentives to help servicers to take alternatives to foreclosure Find out more at makinghomeaffordable.com Protecting Home Ownership

  13. Neighborhood Stabilization Program $5.4 million for will fund purchase, rehab or demolition of 153 properties in the City of Lansing New City of Lansing Neighborhood Empowerment Center at the former Michigan School for the Blind Will provide help with home repairs and home ownership counseling Head Start programs Will be a “green” building Strengthening Neighborhoods

  14. Michigan law enforcement agencies are eligible for $67 million to fight crime Ingham County - $58,738 Lansing City - $652,828 East Lansing - $91,967 Lansing Township - $15,607 Meridian Township - $32,893 Michigan Army National Guard facility improvements - $7.85 million Lansing Reserve Forces Support Center and Joint Forces Headquarters - $1.8 million for energy efficiency upgrades Investing in Public Safety

  15. For the Lansing area: $54.9 million for ARRA-funded road projects; about 1,525 jobs $48.5 million for reconstruction/resurface work on I-96 (1,347 jobs) $19.4 million for other state-fundedroad projects; about 539 jobs $3.1 million to resurface M-43 (Saginaw Av.) in Lansing $5.7 million for US-127 resurfacing $7.1 million for public transit Roads & Infrastructure

  16. White House Recovery Portal:http://recovery.gov State of Michigan Recovery Portal:http://michigan.gov/recovery Michigan Community Service Commission:http://michigan.gov/mcsc Capital Area United Way:http://volunteermidmichigan.org On the Web…

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