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A Recovery Act Update for Michigan Nonprofits Leslee Fritz, Director MI Economic Recovery Office April 14, 2009
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 4 Visit michigan.gov/recovery often for grant applications and the latest updates! Existing programs Competitive grants Tax cuts How Will the Funds Come to Us?
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 5 The Impact for Michigan What does the Recovery Act mean for me? 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 6 Protecting Families $400 tax cut for workers earning less than $75,000 Earned Income Tax Credit increased for families with 3 or more children making up to $43,250/yr $1,000 per-child tax credit for 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 8 Helping Schools $2.2 billion statewide for: –Special education –Programs for at-risk students –Mitigating budget cuts $20 million for Head Start
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 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
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Michigan Recovery and Reinvestment Plan michigan.gov/recovery 12 On the Web… White House Recovery Portal http://recovery.gov http://recovery.gov State of Michigan Recovery Portal http://michigan.gov/recovery http://michigan.gov/recovery
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