Tagged: state budget

Governor Rick Snyder met with legislative leaders to refigure budget plans, now that the state is expected to collect more tax revenue than originally predicted.

An application on Snyder’s i-Pad reminds him every day of a looming, self-imposed budget deadline of May 31st. He says he and lawmakers are going to meet that deadline.

"There’s still work to be done, but we’re moving in a very positive direction, and we’re moving on a path to have the Legislature get the budget done by May 31st – so those countdown clocks could pay off.”

Details could be made public as soon as today.

Part of the deal appears to include about $25 million in tax credits for the film industry, and rolling back cuts to K-12 schools. That’s more money than Governor Snyder or the Legislature had originally proposed.

Budget officials were briefed Monday on how Michigan’s economic recovery is shaping up, and what that means for the state budget. The news was mostly good – it appears there’s another $430 million available to help balance the budget. 

 Now that it’s agreed Michigan’s economy is improving and there’s more revenue, the arguments have started about how to use that money.  

The state is on track to bring in about $430 million more than originally forecast for the coming fiscal year. That’s according to state officials and economists who met today at the state Capitol for a revenue estimating conference.  

Governor Rick Snyder says he’s happy to hear the state is on the track to economic recovery. But he does not want to spend the money too quickly.