a recovery act update for michigan nonprofits leslee fritz, director mi economic recovery office
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A Recovery Act Update for Michigan Nonprofits Leslee Fritz, Director MI Economic Recovery Office April 14, 2009. The American Recovery and Reinvestment Act (ARRA) of 2009. President Obama signs the Recovery Act on February 17, 2009 - PowerPoint PPT PresentationTRANSCRIPT
A Recovery Act Update for Michigan Nonprofits
Leslee Fritz, Director
MI Economic Recovery OfficeApril 14, 2009
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 2
The American Recovery and The American Recovery and Reinvestment Act (ARRA) of 2009Reinvestment 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
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 3
Michigan’s Economic Plan Michigan’s Economic Plan is in Placeis 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
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?How Will the Funds Come to Us?
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 5
The Impact for MichiganThe 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
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 6
Protecting FamiliesProtecting Families
• $400 tax cut for workersearning 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
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 7
Helping Jobless WorkersHelping 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
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 8
Helping Schools Helping Schools
• $2.2 billion statewide for:– Special education– Programs for at-risk
students– Mitigating budget cuts
• $20 million for Head Start
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 9
Providing Health CareProviding 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
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 10
Recovery Act Funds for MichiganRecovery 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
Michigan Recovery and Reinvestment Plan • michigan.gov/recovery 11
Recovery Act Funds for MichiganRecovery 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