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Child Tax Credit: $500 credits under new bill

Michigan residents with children may soon benefit from a statewide child tax credit if a certain bill gets passed.

cash parents could see from the Michigan child tax credit if it passes

This is House Bill 5838 which first needs approval from Governor Gretchen Whitmer.

The Michigan House approved the $2.5 billion dollar tax bill already.

$750 million will go out to taxpayers who have qualifying families.

This means $500 per child will be sent.

Child tax credit: You may need to pay it back, or have IRS seize credits

Unfortunately, not all political leaders feel this is a good plan.

According to The Sun, Whitmer’s spokesperson, Bobby Leddy, released this statement:

“The legislation that is making its way through the legislature is unsustainable and would either result in tax hikes later on for Michiganders or would make some of the largest funding cuts to schools, roads and police protection for communities.”

The bill is entering the State Senate next.

If it passes the Senate, the Governor will see it.

Finger Lakes Partners (Billboard)

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Qualifications for the $500 Michigan Child Tax Credit

  • Your child must be under 18 at the end of the year
  • The child has to be yours, a stepchild, or a foster child
  • The child must reside with you for more than half of the year
  • They must not have provided themselves with more than half of their financial support during the year
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