Group Makes Policy Recommendations To Help Low Income Residents

money47-47
money47-47
While Michigan’s economy is improving, a new report finds the state could be doing more to help its residents who are living paycheck to paycheck. Holden Weisman, the associate director of policy at Prosperity Now, says Michigan’s “income poverty rate” of 13.4% is higher than many states, and its “liquid-asset poverty rate” has been rising for the past seven years. He recommends the state at least prohibit discrimination for anyone using a Housing Choice voucher. Weisman adds legislation making its way through the Michigan House also could help by providing tax relief for some low-income homeowners.

“There are a tremendous amount of people that are working hard but still not moving up the economic ladder. The EITC is extremely important as an anti-poverty measure, because it puts real cash in the pockets of people that truly need it.”

Prosperity Now’s 2020 scorecard for Michigan found high housing costs are a problem for nearly 23% of homeowners and 48% of renters in Michigan as rents go up but wages don’t. The scorecard examines policies Michigan could implement to improve economic conditions, including a refundable Earned Income Tax Credit that’s at least 15% of the federal credit.