Lawmakers have an extra $700 million to use in finalizing a roughly $49 billion spending plan thanks to better-than-expected tax collections.
“The feeding frenzy has begun,” House Speaker Jase Bolger said. “Everyone under the sun has new ideas and new ways to spend this money.”
Michigan could take in $542 million more in revenue than projected four months ago – good news as lawmakers and Gov. Rick Snyder work to finalize a state budget in coming weeks.
The City of Flint is set to hold what it’s calling its first-ever online auction to sell surplus equipment including trucks, tractors and office furniture.
Governor Rick Snyder’s in no hurry to decide what to do with a possible surplus in the just-ended budget year.
Schools have been taking one cut after another for year after year and they’re saying now that there is this surplus, give it to us to buy down that cut per pupil number.
Revenue for the 2012 fiscal year is now forecasted at $7.651 billion, up $356.9 million from the January estimate. Economist predicts state will add about 60,000 jobs annually for the next three years.