Today, FOX 25 reported on the incredible news that over one million Michigan families received extended Child Tax Credit payments in October totalling $453 million — all thanks to relief from President Biden’s American Rescue Plan.
This is the fourth payment this year to go out to Michigan families and has made a profound impact on the livelihood of Michiganders as they recover from the economic toll of COVID-19 — helping families keep food on the table, pay for back-to-school supplies, and pay for child care.
Read more below:
FOX25: More than a million Michigan families have received tax cuts from American Rescue Plan
U.S. Senators have announced new data showing over 1 million Michigan families have received tax cuts this year because of the American Rescue Plan.
In October, 1,021,000 Michigan families received payments totaling $453 million. Since the payments began on July 15, Michigan families have received a total of $1.8 billion.
The Columbia Center on Poverty and Social Policy found that initial payments caused a 25% decline in food insufficiency among low-income families with children. To view the full data on the impact in Michigan, click here.
“This pandemic has been tough for everyone, but families with children have been hit especially hard. This year, millions of families received a much-needed tax cut, and we are seeing just how much it has improved their lives. This tax cut is helping families pay for what they need most—food and clothes. It is also helping many moms and dads pay for child care and other essentials, allowing them to successfully return to work. This important part of the American Rescue Plan is improving the lives of more than a million Michigan families,” said Senator Stabenow.
“This tax cut for families was a critical part of the American Rescue Plan we passed into law. Thanks to this tax cut, families across Michigan have seen significant relief to help get through what has been an incredibly difficult time in our country,” said Senator Peters. “This tax cut has lifted children out of poverty and helped parents get back to work to rebuild our economy. I was proud to pass this historic tax cut into law to make a real difference in the lives of Michigan families working to make ends meet.”
The tax cuts are currently ongoing and the last payment will go out on December 15.