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Tue April 26, 2011
Governor Snyder might bank potential $500 million windfall
Governor Rick Snyder says he may want to bank the money from an unexpected improvement in tax collections – if the windfall exists.
Early revenue projections suggest Michigan may collect $500 million more than anticipated.
But Governor Snyder says he’s not ready to count that money as part of his budget plans.
He says the state may be better off putting it into savings.
“I’m bullish that we’re on a positive economic path, but to say we’re going to see just an upward curve without a few bumps, I would be careful about speculating that given the challenge of gasoline prices and such.”
Democrats want to use any windfall to scale back proposed cuts to schools. The next official revenue estimate comes in mid-May.
The House and Senate are continuing to work this week on budget proposals with an eye toward finishing before June first.