Mich. Has Nearly $1B More Than Expected For Budget - WLNS TV 6 Lansing - Jackson | Your Local News Leader

Mich. Has Nearly $1B More Than Expected For Budget

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LANSING, Mich. (WLNS-AP) - Gov. Rick Snyder and lawmakers have nearly $1 billion more than expected when crafting Michigan's next budget.

The Snyder administration and economists on Friday agreed the state will take about $975 million more in tax revenue from last fiscal year through the next budget year than was forecasted eight months ago.

"I think that a rebate idea, that concept ties us into a year by year approach and I would support that kind of an idea," said Rep. Joe Haveman, the House budget chair. "We should not be going crazy with a tax cut."

Haveman says if there is a tax relief, it should come next year and in the form of a check to citizens, not a cut in the income tax rate.

The consensus revenue estimate is good news, and now the debate will ramp up over what to do with the surplus. Tax cuts, more road repairs and extra money for education are on the table.

"To just give ita ll back would be very difficult because there are strategic investments the public wants us to make," said John Nixon, the governor's budget director.

Snyder will propose his budget recommendation in February. The Republican-led Legislature wants to finalize the spending plan around Memorial Day.

Before finalizing the budget, legislators will get another revenue forecast in May.

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