With high cost of living, action is needed to make home ownership more affordable

As Michigan families continue struggling to make ends meet, state Rep. Kathy Schmaltz today introduced a comprehensive plan aimed at providing much-needed financial relief.

Schmaltz, R-Jackson, said she has a deep understanding of the hardships experienced by people in the Jackson area and throughout the entire state. Her goal is to make life more affordable and help families afford a home.

“Over the past few years, I’ve heard countless stories from people who are struggling to keep up with the rising costs of living,” Schmaltz said. “Grocery prices have soared more than 25% since 2020, and housing costs are higher than ever. I understand the stress and worry this causes, and I want to help.”

The plan, included in House Bills 5628 and 5805-5814, focuses on:

• Home ownership assistance: To make owning a home more attainable, Schmaltz’s legislation, House Bill 5806, would offer up to a $3,000 tax credit to help with down payments. Another part of the plan will significantly reduce the immediate out-of-pocket costs of buying a home by eliminating the real estate transfer tax.
• Support for struggling families: Recognizing the pressure on families, the plan provides an additional $500 per child on tax returns, helping to offset the increased cost of living. House Bill 5628 also creates a new tax credit for Michiganders who fall at or below the federal poverty level.
• Affordable childcare: By updating state regulations, the plan would make it easier and more cost-effective to operate childcare businesses in Michigan. This will help increase access to affordable and reliable childcare, so moms and dads can land stable, well-paying jobs.
• Help with home improvements: Homeowners will benefit from an income tax credit for improvements, allowing them to maintain their homes and grow their families in the community they love.
• Lowering the cost of essential items: To ease the financial burden on families, the plan removes sales tax on back-to-school supplies.

“I see the struggles, I hear your concerns, and I’m committed to making a difference,” Schmaltz said. “This plan is a step toward easing the burdens that so many of you face every day. By addressing housing costs, supporting families with children, improving access to childcare, and reducing the tax burden, we can help Michigan families find relief and build a more secure future.”

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