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Thu January 10, 2013
Mich. Budget Chief Says Revenue Is Mostly Stable
Michigan's budget director says the state budget picture remains stable despite softer-than-expected economic growth.
John Nixon told The Associated Press on Thursday that while risks remain, Gov. Rick Snyder's administration is in a position to make some strategic investments.
He declines to detail specifics, but says past priorities have included public safety, education and the transportation infrastructure.
Nixon and legislative economists will meet Friday to nail down projections on how much revenue will come in this year and in coming years. The forecast will help as Snyder prepares to unveil a spending plan in early February for the budget year starting in October.
It's likely the governor will want to sock more money into a rainy day fund and pay down liabilities in public employee retirement costs.