The new state budget is done and on its way to Governor Gretchen Whitmer now, but there’s still a lot of bargaining left to do on future state spending plans. And that will include discussions on tax cuts.
There’s a windfall that leaves a lot of unallocated money left in the state’s General Fund as well as for K-through-12 schools. Literally too much money for lawmakers to figure out what do with it before the summer recess. But there are plenty of ideas.
Republican Representative Thomas Albert chairs the House Appropriations Committee. He says the state will pay down two-point-six billion dollars in debt, which will help prepare for the day when revenue levels off.
“You know, I think there is plenty of running room left. If you look, we still have 7 billion dollars on the balance sheet, so tax relief is still on the table.”
And that is not a bad thing to have to deal with in an election year, especially when inflation is running high.
