Michigan Governor Signs Inflation Reduction Act

Posted on September 6, 2022Comments Off on Michigan Governor Signs Inflation Reduction Act

Whitmer Signs Executive Directive Utilizing the Inflation Reduction Act to Lower Costs for Michigan Families

LANSING, Mich. (STL.News) Governor Gretchen Whitmer signed an executive directive to lower costs for families by ensuring Michigan takes advantage of tax credits and other opportunities in the newly passed Inflation Reduction Act (IRA) as effectively as possible.  This directive will ensure Michigan’s state departments and agencies use every tool in their toolboxes to pass savings on to Michiganders, expanding on Whitmer’s work to lower costs for families across the state.  The IRA will lower the cost of prescription drugs, health care, and energy, offer a middle-class tax credit to help families buy electric vehicles made in Michigan, and create millions of manufacturing jobs.

“Today, I am building on my actions to lower costs for Michiganders.  The Inflation Reduction Act will lower the cost of prescription drugs, health care, and energy, and I am taking action today to ensure that families have the information and resources they need to fully harness its benefits,” said Governor Whitmer.  “With this action, we can help families fully harness the IRA.  Michigan seniors on Medicare will have their prescription drug costs capped at $2,000 a year—no matter how many prescriptions they have—and insulin capped at $35 a month.  We will also help save over 300,000 Michiganders nearly $800 a year on premiums.  All families will save at least $500 a year on energy costs and middle-class Michiganders will get thousands of dollars in tax credits for buying electric vehicles made right here in Michigan. These provisions to lower costs and put money in people’s pockets are a great step forward and we will work hard to make sure Michiganders can see and feel the benefits of the IRA.  Tough times don’t last, but tough people do, and it is time they got some relief. Let’s get it done.”

Lower Costs for Families Executive Directive

With this executive directive, Governor Whitmer is ensuring Michigan families are positioned to take full advantage of the IRA to lower their costs.  Michiganders need real relief right now as they face high prices on everyday essentials.  Over the last few years, Governor Whitmer has worked across the aisle to lower the costs of child care, higher education and skills training, car insurance, health care, and prescription drugs.  She has also proposed cutting taxes, offering rebates, and increasing tax credits to put more money in people’s pockets.  This includes her proposal to roll back the retirement tax, create a $2,500 rebate for electric vehicles, send working families $500 rebate checks from the state budget surplus, and triple the Earned Income Tax Credit to directly benefit 730,000 working families, including half the children in Michigan.

The executive directive includes the following provisions:

  • State departments and agencies must develop consumer-facing material to ensure Michiganders are aware of all opportunities to lower costs on home improvements, energy upgrades, electric vehicles and transportation, and prescription drugs and other health care costs.
  • The Department of Health and Human Services (DHHS) and the Department of Insurance and Financial Services (DIFS) should ensure that the roughly 220,000+ eligible Michiganders have the information they need to apply for and receive tax credits available to offset the costs of health insurance purchased on the marketplace.
  • DHHS should continue efforts to decrease the cost of prescription drugs for Michigan Medicaid recipients, including through the negotiation of additional value-based purchasing agreements.
  • The Department of Environment Great Lakes, and Energy (EGLE) should work with other state departments to build a plan to help Michiganders utilize federal rebate programs to make energy and home improvements and lower their energy costs.
    The full executive directive can be found here.

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