Plans to either cut taxes or overhaul the state’s teacher retirement system are being complicated by new revenue projections. They show less money than expected to balance the state’s main checking account.
But those same forecasts show the School Aid Fund is in for a windfall.
Republican David Hildenbrand (HIL’-den-brand) chairs the Senate Appropriations Committee.
“This is all good news from my standpoint because the plan we set forth can continue with the numbers here,” Hildenbrand said. “We may have to shift some money around to accomplish some things and to stay on the same course, but I think it’s very do-able.”
Hildenbrand says it’s possible the School Aid Fund will be tapped to help pay for public universities. That’s been opposed in the past by school officials and Democrats.
State Representative Laura Cox chairs the House Appropriations Committee. Cox says she hasn’t given up on a state income tax rollback, but acknowledges it may not be realistic.
“Once we crunch the numbers and we kind of have a meeting of the minds, then that might lead us where, while we would have liked to do a tax cut, we might not have the money to do it,” Cox said.
Governor Rick Snyder and GOP leaders would like the budget wrapped up by early June.
