House spending plan also includes individual tax relief
The Michigan House today approved a balanced state budget that continues to streamline government while at the same time increases spending for education, roads, and infrastructure.
The Fiscal Year 2013-14 spending plan also adds millions of dollars to the state’s Rainy Day Fund and provides additional individual tax relief.
“For the past three years, the my colleagues and I have approved a responsible, balanced budget four months before it is due that continues to eliminate wasteful spending and one-time fixes,” said state Rep. Aric Nesbitt, R-Lawton. “I continue to strive to make the best use of the money entrusted to us by the hard-working taxpayers of Michigan. With this year’s budget we will invest more money into classrooms, make a significant down payment on repairing our roads and bridges, and provide $20 million in individual tax relief.”
In addition to the tax cuts, significant points of this year’s budget include:
- $443.7 million in additional funding for K-12 education;
- $351 million to improve Michigan roads and infrastructure; and
- $75 million for the state’s Rainy Day Fund.
“We have placed strong emphasis on guaranteeing our children have a high-quality, world-class education,” Nesbitt said. “We must continue to make the informed decisions that promote fiscal responsibility and create an environment where our talented youth choose to stay and raise a family.”