Governor Whitmer Statement on Monthly Jobs Report
LANSING, Mich. — Governor Gretchen Whitmer issued the following statement after the release of the latest economic numbers showing Michigan’s economy added 10,000 jobs in June.
“Thanks to our hardworking people and innovative small businesses, Michigan’s economy added 10,000 jobs last month. Our state’s unemployment rate also remains low, at 4.3%, and we will continue our work to do to help families, communities, and small businesses do even better.
“Today, I signed my fourth balanced, bipartisan budget that delivers on the kitchen-table issues that matter most to Michiganders. Our a fiscally-responsible budget brings our rainy day fund to an all-time high of $1.6 billion, pays down billions in debt, and does not raise taxes by a dime. It will also spur economic growth with investments in economic development, key projects, and our workforce.
“I look forward to working with my partners in the legislature to ensure that working families have enough money to pay the bills, afford medication, and put food on the table as they face rising prices. Let’s use the billions in state resources we still have left on the table to offer real inflation relief to families right now. I have already proposed sending working families $500 inflation relief rebate checks, cutting taxes for seniors, and suspending the states sales on gas. I am confident that we can work together to lower costs and put more money in people’s pockets. Let’s get it done.”
According to Bloomberg, Michigan experienced its best economic recovery in history over the last two years. Michigan is #1 nationwide based on equally-weighted measures of employment, personal income, home prices, and stock market performance of publicly-traded companies. The state is also in the midst of a manufacturing boom, having announced 25,000 new auto jobs and counting since Governor Whitmer took office and many other high-skill, in-demand jobs in fields ranging from semiconductor chips to software to agriculture. Michigan is a standout for investors with bonds returning better rates than ever.
Cutting Taxes, Lowering Costs
In December, Governor Whitmer signed a bipartisan tax cut for small businesses, allowing small businesses owners to exempt more of their personal property. In her 2022 State of the State Address, Governor Whitmer proposed tax cuts for seniors and working families. She proposed a roll back of the retirement tax which would put an average of $1,000 back in the pockets of half a million seniors who worked hard and played by the rules. She also proposed tripling the Michigan Earned Income Tax Credit, which would deliver a combined $3,000 tax refund in the pockets of 730,000 working families. In addition, Governor Whitmer signed bipartisan legislation repealing the tampon tax. These tax cuts will put thousands of dollars back in the pockets of over 1.2 million households across Michigan, ensuring they are not as heavily impacted by price increases.
To save drivers money at the pump, Governor Whitmer called for a pause on the sales tax on fuel. A short-term pause is a fiscally-responsible action we can take that will provide drivers relief at the pump right now – not next year – while also protecting funding for road repairs and saving tens of thousands of good-paying construction jobs.
Governor Whitmer also called for sending $500 inflation relief rebate checks to working families as they face rising prices on everyday expenses. Getting this done would put money in their pockets and help them pay the bills and put food on the table.
In December, Governor Whitmer signed bipartisan legislation empowering Michigan’s economic development with a fund to give the Michigan Economic Development Corporation, or MEDC, a new set of powerful tools to land some of the huge projects in their pipeline that would lead to billions in investment and tens of thousands of jobs. The legislation led to GM’s announcement of a $7 billion investment in Michigan building electric vehicles and batteries. It also set up a fund for small business relief, building on work the state has done since March 2020 to set up 23 economic relief programs and deliver over $240 million to small businesses in all 83 Michigan counties. In the same package of bills, the governor also set up a grant program for small businesses left out of other pandemic aid.