State Looking At $500 Million Surplus

LANSING (WWJ) – After the big debate over Michigan’s budget — the necessary cuts and the restructuring of the business tax plan — there’s word that there are millions in unanticipated dollars sitting in the state treasury, which earlier seemed bare.

WWJ’s Lansing Bureau Chief Tim Skubick calls it a “conundrum.”

Reporting live Monday morning, Tim told WWJ’s Joe Donovan and Roberta Jasina that lawmakers have been voting to cut the budget left and right — and particularly in the school aid plan — by a couple of hundred dollars per pupil. And, now comes a surplus.

How are some of these politicians, they ask themselves, going to go home and explain this to the folks back home: I’ve cut education, but we’ve got money in the treasury; maybe as much as $500 million extra.

This is a problem, and there will be a huge debate after the surplus is certified at what is called the Revenue Estimating Conference. There will be a pushback and, Tim is told, the governor will go along with taking some of the surplus and putting it back in the school aid budget. The question is how many dollars, because there are other more conservative Republicans who will want to put the money into a rainy day fund.

Tim will be providing details when they become apparent sometime Monday morning.


One Comment

  1. EB says:

    Wow, four days after passing more cuts to schools and giving business more money, they discover there’s a half a billion dollar surplus. Coincidence? I think not.

  2. Dew0530 says:

    A “conundrum” indeed, Tim. I have another word for it: LIE! Once again, we citizens are misled, deceived and taken advantage of by self-serving politicians. Sure, the schools need a slice of this so-called new-found pie, but so do our seniors and our working poor, all of whom are potentially heading for desparate times, thanks to the current administration in Lansing. Shame on all of you!

    1. Tony T says:

      You realize that “Tim” is the one who is calling the mythical surplus a conundrum, right? Tim is a news boy, not in the government. Let him get some facts and then present those, not his supposed overheard gossip.

  3. Jim says:

    Gee, didn’t the same thing happen in 2007 when Jennie was in office? Wayne State had a tiution surcharge that, when extra money was found, offered no reinbursement. I’m just sayin’…

  4. Greg says:

    How convenient for the Republicans! I agree with EB and Dew0530, this looks more like a Republican scam than a conundrum.

  5. Sam says:

    They should restore the promise made to college entering students.

  6. Pat from Algonac says:

    What a fine example of short-sighted, uninformed plain old ignorance. First cut senior paychecks, reduce education funds and form state sponsored dictatorships to run local government. And then… “Uh guess what, I found $500 million dollars” The group formed to run local governments that are deemed to be fiscally irresponsible should make their first stop in Lansing and take over the legislature.

  7. Mikey says:

    I alsoI agree with EB and Dew0530, this looks more like a Republican SCAM & LIE!

    Just like the Republican’s Mantra, Give tax cuts to Businesses and they will create Jobs. Balderdash! In my 38 years as a CPA, NO Business will create a job unless there is an increase in demand for their Product/Service.

    CEO’s are trained to increase productivity by increasing Revenues and slashing Costs and if that means firing employees, so be it. Example is GE’s Jack Welch who got the nickname of Neutron Jack for firing employees.

    1. Dew0530 says:

      Way to go, Mikey! Finally, another soul who is not taken in by this adminsitartion’s version of “Reaganomics.” Back then the “Trickle Down” economics program was nicknamed “TINKLE Down.” There was good reason for that for those of on the receiving end of many bank failures, double-digit inflation, etc, etc. Boy, did we get tinkled on!

  8. Fed_Up says:

    I want my share of it back. They lied and raised taxes, this is theft

  9. jack says:

    I hate republicans !! Dirty lying cowards that want to ruin this state and country!! LIES LIES LIES and we let them get away with it !! :(

  10. Alan Jones says:

    AMEN, AMEN!!!!

  11. Alan Jones says:

    This is why this lying, wolf in sheeps cloth Snyder should be RECALLED NOW! The most dangerous Governor and Legislature in my Lifetime and I am 51

    1. Nicky D says:

      you’re also an idiot if you think he’s worse than Jenny

  12. Tony T says:

    What a sham story!!! Where are the fatcs?? What are the numbers involved exactly. “Tim” the news boy is the only one commenting. Typical lame stream liberal media stirring up a dust storm or nothing and watching the liberal nuts go crazy.

  13. Nicholas says:

    Personally I would prefer the goverment have funds left over. Although I bend knee to neither Republicans nor Democrats, I agree with the republicans in this instance. When I balance my own budget, I rarely aim for $0 left over, and by rarely I mean never.

  14. Jim Foss says:

    Maybe the taxpayers in Michigan will get a tax refund! Cool!

  15. Mike says:

    Seriously? They slash education when they didn’t even KNOW their financial status? The party of “no” is also apparently the party of DUHHHH.

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