Michigan Budget Director Hopes for Boost in MI Credit Rating - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Michigan Budget Director Hopes for Boost in MI Credit Rating

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LANSING, Mich. (WLNS) - The governor and his budget director went to the credit rating agencies on Wall Street last week hoping for a bump in the state's AA- rating. The budget director, John Nixon, said he saw a lot of head nodding as they laid out the Michigan comeback story.

The toughest questions centered on the financial future of Detroit, now being run by an emergency manager.

In the nation's capitol, the sequestration issue has not been resolved and at some point it could trickle down to state government workers, some of whom may be laid off.

Nixon has sent out lay off notices, but if workers get pink slips, not many will be issued.

Back on the budget front, he is watching five republicans in the state Senate and House democrats who want to eliminate the senior pension tax and restore other tax credits that the governor scrapped. They have not explained how they would replace a billion dollar hole in the budget.

 

 

Nothing will be done on this for two weeks, as lawmakers are on break.

 

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