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A Recovery Act Update for Michigan Nonprofits Leslee Fritz, Director MI Economic Recovery Office

A Recovery Act Update for Michigan Nonprofits Leslee Fritz, Director MI Economic Recovery Office April 14, 2009. The American Recovery and Reinvestment Act (ARRA) of 2009. President Obama signs the Recovery Act on February 17, 2009

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A Recovery Act Update for Michigan Nonprofits Leslee Fritz, Director MI Economic Recovery Office

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  1. A Recovery Act Update for Michigan Nonprofits Leslee Fritz, Director MI Economic Recovery Office April 14, 2009

  2. The American Recovery and Reinvestment Act (ARRA) of 2009 • President Obama signs the Recovery Act 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

  3. Michigan’s Economic Plan is in Place 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 The Recovery Act will accelerate our plan

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

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

  6. Protecting Families • $400 tax cut for workersearning less than $75,000 • Earned Income Tax Creditincreased for families with 3 or more children making up to $43,250/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 for 2009

  7. Helping Jobless Workers • Unemployment eligibility extended by up to 20 weeks (maximum of 79 weeks) • $25 per week increase in unemployment benefits • First $2,400 in unemployment benefits not taxed • Food Assistance increased for 1.3 million Michigan families - example: about $80 more per month for a family of four making less than $40,000

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

  9. Providing Health Care • Pays for 65% of continued health coverage for citizens who have lost their jobs (COBRA) • Significant Medicaid funding boost • 1.6 million Michigan citizens rely on Medicaid health coverage • Over $11.2 million for Michigan health clinics that serve large numbers of low-income patients

  10. Recovery Act Funds for Michigan Expected Formula Funding for MI Departments: • Community Health: $2.3B • Education: $2.2B • Human Services: $1.5B • Transportation: $982M • Energy, Labor & Economic Growth: $580M • Housing & Development Authority: $300M • Environmental Quality: $240M

  11. Recovery Act Funds for Michigan MI Program Funding Examples: • Community Services Block Grants: $36M • Elderly Nutrition: $3M • Domestic Violence Prevention & Treatment: $4M • Weatherization Assistance: $244M • Byrne JAG: $67M • Homelessness Prevention: $53M • AmeriCorps: $966,875

  12. On the Web… • White House Recovery Portalhttp://recovery.gov • State of Michigan Recovery Portalhttp://michigan.gov/recovery

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