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Mon May 16, 2011
Snyder says revenue windfall could be used to roll back budget cuts
A budget panel will meet this morning to consider economic forecasts and project how much money the state has to spend in the coming fiscal year.
Michigan’s economy is in the early stages of rebounding and it appears the state is bringing in the tax revenue to prove it. Many lawmakers want to use the windfall - half a billion dollars or more - to reverse cuts to K-12 schools. And Governor Snyder says some of the money could be used to roll back the size of proposed budget cuts:
“If there’s funds are available, we should be looking at how we deal with some of these cuts. These were tough calls.”
But Governor Snyder and other Republicans also say they want to be careful about spending additional revenue instead of fixing ongoing budget pressures. The governor says some of the money could also be used to shore up the state’s emergency savings in case the economy takes a another tumble.