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If You Live in Michigan, Here’s How Trump Might Affect Your Wallet

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If You Live in Michigan, Here’s How Trump Might Affect Your Wallet


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Michigan is a swing state with a significant impact on the presidential election. From the 1970s to the 1980s, Michigan voted Republican before voting Democrat from the 1990s to 2012.

Things changed again in 2016 when Michigan voted for Donald Trump, giving him a narrow win against his opponent at the time, Hillary Clinton. While the Great Lakes State voted in favor of Democrat Joe Biden in 2020, it’s anyone’s guess what will happen during this year’s election.

With Election Day only about a month away, the question becomes this: If Trump gets re-elected, how will that impact Michigan residents’ finances? Here are a few possibilities.

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Check Out: Trump Wants To Eliminate Income Taxes: How Would That Impact You If You Are Retired?

Read Next: 9 Things You Must Do To Grow Your Wealth in 2024

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Positive Impact on Select Industries

If you live in Michigan and work in certain industries, a Trump presidency could be a good thing for your wallet.

“A Trump presidency would have a positive impact on the finances of Michigan residents,” said Kevin Jerry, a nationally recognized expert in tax method changes and owner of Kevin A Jerry MST & Associates.

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It might depend on the industry, though. In particular, Michigan is known for its automotive, manufacturing, tech, engineering, defense and professional services sectors. If Trump is elected, his policies could also support growth and innovation in these areas, good news for those hoping for higher wages or better opportunities.

Learn More: What a Trump Presidency Could Mean for Social Security in 2025

Expansion of the Tax Cuts and Job Act of 2017

The Tax Cuts and Job Act (TCJA) of 2017 has had a massive impact on tax law. Most of the changes it’s brought about — specifically those that impact individual finances — are set to expire in 2026.

Trump was the one who originally signed the TCJA into law. If he’s elected for a second term, he could very well expand it beyond its current timeline.

“The Tax Cuts and Jobs Act of 2017 will most likely be reinstated,” said Jerry. “That means the R&D tax credit, bonus depreciation on commercial buildings and residential rentals, as well as a continued 21% C Corporation tax will mean more jobs at higher wages because higher corporate profits will lead to more investments in plant, equipment and people.”

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Some Prices Could Go Down

According to Jerry, a Trump presidency would have a largely beneficial impact on taxpayers. It’s possible that some of his policies would bring prices down, which would alleviate some financial stress.

However, certain policies could have an adverse effect on prices.

Trump has proposed enacting a tariff on foreign-made goods. This could support domestic businesses, which would be good for entrepreneurs and business owners. But it would also lead to higher prices on imported products. For those who primarily buy domestic goods, this might not have much of a direct impact, but only time will tell.

Housing Prices Could Continue To Rise

According to the S&P Corelogic Case-Shiller Index, U.S. housing prices are at an all-time high. The median sales price is $412,300.

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As of now, Trump hasn’t specifically indicated how he plans to address the housing crisis issue. If prices remain as high as they are, or if interest rates continue to remain high (though there has been some improvement on that end), homeownership could remain out of reach.

There is potentially good news, however. The median sales price of single-family homes in Michigan is $260,000, significantly lower than the national median. For those who’d benefit from potentially higher wages or better career opportunities, this could make homeownership more achievable. There’s just no guarantee that prices will drop.

Stocks Could Benefit

The stock market has always been volatile, regardless of who’s in office. For individuals who’ve invested in stocks, a Trump presidency could be beneficial.

A recent CNBC survey found that 67% of individual investors feel that Trump would be good for the stock market. During his initial term, the Nasdaq rose 137%, while the S&P 500 rose 68%. In contrast, the Nasdaq has only risen 34% and the S&P 500 has risen 44% under the Biden-Harris administration (as of June 2024).

Regardless of location, those who rely heavily on stocks — either for passive income or as part of their retirement planning — could benefit from Trump. For long-term investors, the current U.S. president might not have as much of an impact.

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Editor’s note on election coverage: GOBankingRates is nonpartisan and strives to cover all aspects of the economy objectively and present balanced reports on politically focused finance stories. You can find more coverage of this topic on GOBankingRates.com.

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This article originally appeared on GOBankingRates.com: If You Live in Michigan, Here’s How Trump Might Affect Your Wallet



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Woman struck, fatally injured, while walking on the Lodge Freeway, state police say

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Woman struck, fatally injured, while walking on the Lodge Freeway, state police say



A pedestrian was struck and died of her injuries early Friday on the Lodge Freeway in Detroit. 

Emergency dispatchers started to get calls about 2:30 a.m. about someone who was walking along the Lodge, and then were notified that the person had been struck by a vehicle, the Michigan State Police reported. 

When troopers arrived, they found multiple cars stopped along the freeway, and people standing around a woman who was severely injured. 

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Detroit EMS pronounced the woman dead at the scene, state police said. She has not yet been identified. 

The driver who struck the woman did not stay at the scene. 

“Troopers are currently using technology that is available in the area to identify the vehicle involved,” MSP F/Lt. Mike Shaw said. 

The Lodge Freeway, also known as M-10, was closed at about 2:46 a.m. Friday between Chicago Boulevard / Hamilton Avenue and Clairmount Street for the investigation and emergency assistance, according to Michigan Department of Transportation reports. The Lodge was reported back open at 6:05 a.m.  

Michigan Department of Transportation traffic reports are at the MI Drive site. 

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State police said their investigation is continuing. Those who witnessed the crash or have other information are asked to call the MSP Metro South Post at 734-287-5000 or Crime Stoppers of Michigan at 800-SPEAK-UP. 



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List of active weather alerts as severe weather moves through Southeast Michigan

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List of active weather alerts as severe weather moves through Southeast Michigan


Severe storms bring risk of tornadoes, hail, flooding

A severe thunderstorm warning has been issued for Lenawee County. (Copyright 2026 by WDIV ClickOnDetroit – All rights reserved.)

4Warn Weather – The severe thunderstorm warnings in Monroe and Lenawee counties have expired.

A ground stoppage has also been deployed.

Click here for the latest forecast from our 4Warn Weather team.

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Here’s a list of the alerts by county.

Wayne County

  • No active weather alerts.

Oakland County

  • No active weather alerts.

Macomb County

  • No active weather alerts.

Washtenaw County

  • No active weather alerts.

Monroe County

  • Severe thunderstorm warning expired at 8 p.m.

Livingston County

  • No active weather alerts.

Lenawee County

  • Severe thunderstorm warning expired at 7:45 p.m.

Lapeer County

  • No active weather alerts.

Genesee County

  • No active weather alerts.

St. Clair County

  • No active weather alerts.

Sanilac County

  • No active weather alerts.




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Michigan football emphasizes return of discipline under new regime

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Michigan football emphasizes return of discipline under new regime


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The buzzword continued to come up in Schembechler Hall, from each one of the captains.

From Bryce Underwood to Jordan Marshall, Rod Moore to Trey Pierce − Michigan football players around for the previous regime and in the case of the latter two, the one before that too − each said Wednesday, March 25, that there’s a noticeable difference within the program under new coach Kyle Whittingham.

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For Moore, a sixth-year player who will likely become a third-time captain when the official leaders are voted on later this summer, he recognized the vibe.

“I would say it’s kind of a similarity to coach Harbaugh’s regimen,” he said. “It’s a lot more strict than the past two years, and the weight room has kind of been a night-and-day difference than the past two years. We feel a lot stronger, a lot more progress.”

The Wolverines finished winter conditioning and Whittingham graded it with an “A+.” Hope is often the dominant mode at this time of year and adding a new coaching staff to what’s generally a positive time creates little surprise that the Wolverines are raving about the new system.

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But beyond the platitudes and clichés, there are tangible examples. Take Pierce: The projected starting defensive tackle has trimmed his weight to 300 pounds while adding muscle mass to his overall frame.

“Something new that we have now is that whenever we start meetings, there’s like a loud air horn that goes off throughout the whole building,” Moore said. “The past two years, we would start the meeting at 2:30, but now we start the meeting at 2:25, even though it’s a 2:30 meeting. Just everyone being five minutes early. The coaches are holding everyone accountable in the meetings, going to class.

“Just the little things that makes a team great, not just the big, broad things that everyone sees.”

There was an implication from everyone, though nothing said explicitly, that the past two seasons featured little enforcement. Most players would show up on time for lifts, but there were those who didn’t, with few repercussions.

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“It’s the little things,” Pierce said. “Guys being late for lifts, guys not being where they’re supposed to be, whether it’s [missing] class. Just enforcing that a little bit heavier, that type of thing. … A lot of coaches say that when you’re being recruited in front of your parents. But for [Whittingham] to say that in front of the huddle after practice and say, ‘That’s why I’m here,’ I would say, ‘OK, he cares. He gets it.’”

Throughout the offseason, some who’ve spent time inside the facility said the weightlifting sessions had notably more juice. The past two years felt like a carryover of the previous years in terms of style, but accountability and discipline wavered.

Now, with Doug Elisaia leading the strength and conditioning room, there are different philosophies.

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Practices are a bit shorter these days – two hours – but as Marshall said, “I don’t stop moving at practice, like, we’re always doing something that’s not only going to help with us competing with teams, but our conditioning.”

Marshall believes it can take the Wolverines to the next level, he said.

Just more than a week into spring ball, players are oozing confidence. Not just in their skills − the running back room is deep, the wide receiver room has as much raw talent as at any point the past decade, the offensive line returned multiple key pieces, the secondary added depth and the defensive tackles feel underrated − but in mindset.

U-M had early, demanding lifting sessions during winter conditioning, with a clear organization.

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“It introduces that factor of toughness, like we’ve been through this at 6:30 a.m., 6:15 a.m., all these days in the grind together,” Pierce said. “It improves team bonding, and puts you in the headspace of, we’ve done harder stuff than this, and nothing can break us.”

The difference between winning and losing can often be razor-thin. Will this pay off when it counts during the season?

“If I can trust you to do things maybe you don’t want to do,” Marshall said, “then I can trust you on the field when it’s the fourth quarter and we have one minute left.”

Tony Garcia is the Wolverines beat writer for the Detroit Free Press. Email him at apgarcia@freepress.com and follow him on X at @RealTonyGarcia.





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