Stories tagged: "taxes"


FILE - Speaker of the House Kevin McCarthy, R-Calif., speaks at the Capitol in Washington, Thursday, April 20, 2023. The Democratic president and Republican congressional leader have each tried to assure the public in recent weeks that they don't want the government of the world's largest economy to default. But President Joe Biden has resisted McCarthy's calls for negotiations, while McCarthy is pushing a plan that can't pass the Democratic-majority Senate. (AP Photo/J. Scott Applewhite, File)
What Happens if America Defaults on Its Debt?

If the country defaults on its debt, millions of people would lose their jobs, retirement accounts would be decimated, Social Security payments could be delayed, Medicare and Medicaid benefits could be affected, and military members could see paychecks delayed.

President Joe Biden speaks about his 2024 proposed budget at the Finishing Trades Institute, Thursday, March 9, 2023, in Philadelphia. (AP Photo/Matt Rourke)
Biden’s Budget Would Tax Billionaires, Corporations to Strengthen Medicare, Expand Child Care, and Help Families

Republicans immediately rejected Biden's plan, but have yet to release their own budget. They have made it clear, however, that they want to apply deep spending cuts to everything from health insurance to food assistance benefits.

Michigan Gov. Gretchen Whitmer delivers her State of the State address to a joint session of the House and Senate, Jan. 25, 2023, at the state Capitol in Lansing.(AP Photo/Al Goldis, file)
Michigan Lawmakers Approve $1B Tax Break Families and Seniors

Legislation approved by the Michigan Senate on Tuesday will provide relief for retirees by phasing out the retirement tax, and help lower-income families by significantly expanding the state’s Earned Income Tax Credit from 6% to a 30% match of the federal rate.

Gov. Gretchen Whitmer has pledged to deliver on the issues that make a real difference in Michiganders' lives—including by lowering their costs, and building a stronger economy. (Courtesy/Governor Gretchen Whitmer via Facebook)
4 Key Takeaways From the First 50 Days of Whitmer’s Second Term

Michiganders have seen thousands of new jobs, progress on a lengthy list of road repairs, lower costs for families pinched by inflation, and continued efforts to make the state a safer place to live, work and learn.

(Susan J. Demas/Michigan Advance)
Tax Cut Bill Passes Michigan Senate Without GOP Support

The Democratic-led Senate on Thursday passed a tax relief bill they say will particularly benefit seniors and working families in Michigan—even without Republican support.

President Joe Biden delivers the State of the Union address to a joint session of Congress at the U.S. Capitol, Tuesday, Feb. 7, 2023, in Washington, as Vice President Kamala Harris and House Speaker Kevin McCarthy of Calif., applaud. (Jacquelyn Martin, Pool)
‘A Blue-Collar Blueprint to Rebuild America’: 7 Takeaways From Biden’s State of the Union

Biden’s blueprint includes several recently passed laws which are expected to create millions of good-paying jobs in construction, manufacturing, and other sectors. 

Quick Answers About Doing Your Taxes (and How to Get Them Done for Free)​

Dreading filing your taxes? You're not alone. Let us make it a little easier with this list of answers to common questions about tax season, including Michigan-specific information and help.