Rogers Proposes Tax-Free Housing Savings Plan at Mackinac Policy Conference
GOP Senate candidate Mike Rogers unveiled his plan for tax-free housing savings accounts during Thursday’s Mackinac Policy Conference appearance.
MACKINAC ISLAND, MICHIGAN — Republican U.S. Senate candidate Mike Rogers shared his housing affordability proposal during a morning conversation at the Mackinac Policy Conference on Thursday. He defended his plan to create tax-free savings accounts for home down payments.
The former congressman from White Lake, now the lone GOP candidate for U.S. Senate, spoke with WOOD-TV’s Rick Albin before Democratic candidates Abdul El-Sayed, Mallory McMorrow, and Haley Stevens participated in an afternoon debate at the conference.
Housing Affordability Concerns
When asked about making home ownership more accessible, Rogers discussed the financial challenges facing middle-aged first-time buyers. He noted that delayed homeownership significantly impacts wealth building potential.
“When you’re 41 and buying your first home, you’ve lost on average about 12 years of equity, and the whole purpose of buying a home is that is the largest investment in your personal wealth that you will have,” Rogers said. “That’s why that’s such an important driver.”
Proposed Solution
Rogers criticized recent federal legislation that he said would add bureaucratic layers and regulatory costs without addressing housing affordability. He questioned how additional government agency oversight would lower housing costs.
“I’ve proposed something I think is pretty innovative. We’re going to allow you to save tax free for a down payment,” Rogers said. “We’re also going to allow businesses to contribute to that fund, the version of a 529 education savings plan, which, by the way, I’m a big fan of.”
Rogers highlighted Michigan’s existing use of 529 education savings plans, noting that approximately 400,000 families across the state currently use them to offset higher education costs. His housing proposal would follow a similar structure but target homeownership accessibility.
Conference Context
The Mackinac Policy Conference conversation occurred as Rogers continues his campaign as the only remaining Republican candidate in the U.S. Senate race. His appearance preceded the Democratic debate featuring the three candidates vying for their party’s nomination.
Rogers also fielded questions about education, wages, and the United States’ relationship with Canada during his session with Albin. The conference serves as a key political gathering where candidates present their policy positions to Michigan business and political leaders.
