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Saginaw Recovery Presentation
 

Saginaw Recovery Presentation

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Community presentation given by Governor Granholm to discuss the American Recovery and Reinvestment Act and the impact it will have on Saginaw, MI.

Community presentation given by Governor Granholm to discuss the American Recovery and Reinvestment Act and the impact it will have on Saginaw, MI.

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    Saginaw Recovery Presentation Saginaw Recovery Presentation Presentation Transcript

    • A Recovery Update for Michigan’s Citizens Governor Jennifer M. Granholm
    • The American Recovery and Reinvestment Act (ARRA) of 2009  President Obama signs ARRA 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 http://michigan.gov/recovery
    • 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 ARRA will accelerate our plan http://michigan.gov/recovery
    • How Will the Funds Come to Us?  Through existing programs  Competitive grants  Tax cuts Visit michigan.gov/recovery often for grant applications and the latest updates! http://michigan.gov/recovery
    • The Impact for Michigan  Total estimated benefit for Michigan: $18 billion  Funding available for existing programs: about $7 billion  Will create or save 109,000 jobs over the next two years What does the Recovery Act mean for me? http://michigan.gov/recovery
    • Helping Families  $400 tax cut for workers earning less than $75,000 ($800 if filing jointly)  $5,656 credit (was $5,028) for families making up to 40,000/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 http://michigan.gov/recovery
    • Helping Jobless Workers  Eligibility extended by up to 13 weeks (maximum of 72 weeks)  $25 per week increase in unemployment benefits  First $2,400 in benefits now exempt from income tax http://michigan.gov/recovery
    • Education & Training for Citizens  American Opportunity Tax Credit – up to $2,500 of college expenses will be tax deductible  Pell Grants – maximum award for low income students will increase from $4,850 to $5,350 this fall In addition…  No Worker Left Behind – Over 61,000 participants statewide since 2007 http://michigan.gov/recovery
    • Protecting Health Care  Pays for 65% of continued health coverage for citizens who have lost their jobs (COBRA)  Medicaid - significant funding boost (43,141 now enrolled in Saginaw County)  Michigan has received over $9 million for health clinics http://michigan.gov/recovery
    • Helping Citizens Most in Need  Homelessness Prevention - $50 million in new funding, helping more than 11,000 families statewide  Food Stamp Benefits – about an additional $80 per month for a family of four (about 38,000 people in Saginaw County)  Women, Infants and Children – added funding  Emergency Food Assistance – increased aid to food banks, soup kitchens, food pantries and other local relief agencies http://michigan.gov/recovery
    • Weatherization & Energy Conservation  Weatherization Assistance – a family of four making less than $44,000 can receive up to $6,500 for upgrades that save money on energy (up to 800 homes in Saginaw County)  $5.5 million in Saginaw  Energy Efficient Improvement Tax Credits – will triple maximum credit from $500 to $1,500 http://michigan.gov/recovery
    • Roads & Infrastructure For the Tri-Cities area:  $55 million for ARRA-funded road projects; up to 1,523 jobs  Saved City of Saginaw $1.8 million for M-13 reconstruction  Total $122 million for state-funded road projects; up to 3,390 jobs  $60.7 million to rebuild I-675 this summer (1,690 jobs) http://michigan.gov/recovery
    • Investing in Public Safety  Michigan law enforcement agencies are eligible for $67 million to fight crime  City of Saginaw: $842,803  Saginaw County: $57,731  Buena Vista Twp: $75,352  Saginaw Twp: $42,627  City of Saginaw will receive $1.6 million for neighborhood stabilization/property demolitions  150 properties in Saginaw demolished during 2007 and 2008 http://michigan.gov/recovery
    • On the Web…  White House Recovery Portal: http://recovery.gov  State of Michigan Recovery Portal: http://michigan.gov/recovery  Michigan Community Service Commission: http://michigan.gov/mcsc  United Way of Saginaw County http://www.unitedwaysaginaw.org/ http://michigan.gov/recovery