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Spotlight on pensions, budget, tax incentives before summer

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steve carmody
/
Michigan Radio
Gov. Rick Snyder (R-MI) and Senate Republican leader Alan Meekoff stilll have budget issues to resolve

LANSING, Mich. (AP) - A tentative deal to steer more newly hired teachers into 401(k)-only retirement plans has stopped a surprising budget showdown between Republican legislative leaders and Gov. Rick Snyder.

  But key details remain to be finalized in a matter of weeks before the Legislature's summer recess.

  The decisions will affect not only future school employees but also a $55 billion state spending plan that is poised to receive Snyder's imprint after he was excluded from earlier talks.

  The Senate's leader says enacting a budget and changing teacher pensions are "heavy lifts." But job-creation tax incentives also are a priority for Snyder and others who want to entice Taiwan-based Foxconn, the world's largest electronics contract manufacturer, to expand into Michigan.

  Some key House Republicans are skeptical of the targeted tax breaks.

The Associated Press is an independent global news organization dedicated to factual reporting.
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