Personal Taxes

Private incomes have risen in Michigan and all 50 states, however activists urge extra assist – Michigan Advance

Maureen Taylor says there have been “phenomenal temporary” state and federal COVID-19-related relief, but more systemic action is needed to help Michigandans face difficult economic challenges.

“It’s the difference between a box of granola and two boxes of granola, you know what I mean?” Said Taylor, chairman of the Michigan Welfare Rights Organization. “But poor people couldn’t keep up before the pandemic.”

Maureen Taylor, Chair of the Michigan Welfare Rights Organization, during a NAACP-sponsored proxy rally in Lansing on April 13, 2021 | Ken Coleman Fotoman

Your comment comes as new data from the Bureau of Economic Analysis shows personal income increased in all 50 states and Washington, DC in the first quarter of 2021. Biden government officials said this was largely of relief in the country American rescue plan, the $ 1.9 trillion business development plan signed by the Democratic President of the United States in March.

The plan included checks for $ 1,400 for millions of low- and middle-income Americans, new child tax breaks, and expanded unemployment benefits. Michigan has received more than $ 10 billion in aid to state and local governments.

The development contrasts sharply with the fourth quarter of 2020, when personal income fell in 27 states and in development cooperation. Year-over-year, state personal income rose 59.7% in the first quarter of 2021 after falling 3.9% in the fourth quarter of 2020 The percent change in personal income ranged from 89.3% in Mississippi to 31.1% in the District of Columbia.

The White House said more Americans are “back to work, coronavirus is brought under control and the economy is booming”.

Biden and Whitmer appear in Traverse City

Revenue in Michigan and eight other states, including Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Tennessee, and Texas, rose in part due to profit-sharing payments from automakers to workers represented by the United Auto Workers (UAW) union.

Ford Motor Co. announced in February that eligible UAW members would receive profit-sharing benefits of up to $ 3,625 per hour.

General Motors Co. also announced in February that 44,000 UAW-represented employees would receive up to $ 9,000 in profit-sharing checks every hour this year.

Fiat-Chrysler’s parent company Stellantis announced in March that after the company’s performance in 2020, thousands of dollars in profit-sharing will be paid out to union auto workers. UAW-represented employees received a bonus of $ 8,010 after FCA posted net income of $ 29 million last year.

Income falls in South Dakota and five other states, including Iowa, Montana, Nebraska, North Dakota, and Wyoming, were primarily due to declining farm revenues due to lower payments to farmers from the Coronavirus Food Assistance Program.

However, real estate revenues such as dividends, interest and rents fell 0.1% for the country in the first quarter of 2021, after rising 5.8% in the fourth quarter. The percent change in property income for all states ranged from 1.4% in South Dakota to -1.7% in Georgia.

The Biden administrator extends the federal eviction moratorium for a final month

Last week the Biden administration extended a national moratorium on evictions for another month. The extra month of evacuation assistance comes after housing advocates raised concerns about the impact on tenants if this Centers for Disease Control and Prevention moratorium was launched on Jan.

According to the Center on Budget and Policy Priorities, a progressive think tank, more than 10 million adult renters were behind with their rent payments in early June.

The US MP Rashida Tlaib (D-Detroit) agrees with Taylor that many Americans “were already in survival mode before the pandemic”.

Tlaib stated that Congress and the Biden government must work together to make the child tax credit permanent and more accessible, and also to pass their legislation called legislation BOOST act, which would offer a new tax credit of up to $ 3,000 for a single person and up to $ 6,000 for a married couple. It would complement the existing tax credits and direct the Internal Revenue Service to establish a Community Voluntary Income Tax Assistance Matching Grant program to assist low-income taxpayers with filing tax returns.

“Many of our residents see no change in their quality of life,” said Tlaib.

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