Stamas: 2015 budget invests in Michigan’s future, pays down debt

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The Michigan House today overwhelmingly approved a state budget that focuses on the state’s future, investing $13.9 billion into public schools and dedicating $1 billion to help pay down the state’s debt liabilities, announced state Rep. Jim Stamas.

Under the state’s general budget, an additional $100 million will go toward revenue sharing with local communities, with Midland County’s share increasing by 25 percent. Revenue sharing will also be made easier for local townships and cities, focusing on transparency at all levels of government.

An additional $285 million will also be dedicated to roads and $47 million to improving public safety throughout the state.

The School Aid Fund budget dedicates $13.9 billion to Michigan’s public schools – a 4.1 percent increase from last year and the largest K-12 allocation in the state’s history – and increases per pupil funding, closing the equity gap in school districts statewide. Early childhood education will also receive an additional $65 million in the fiscal year 2015 budget, making Michigan a national leader in pre-K funding.

“This money only further affirms our commitment to our state’s students, and I’m proud that the state has once again increased funding for our public schools,” Stamas said. “From before kindergarten to after high school, we are making sure our children are getting the best education possible.”

The School Aid Fund budget also dedicates $1.1 billion to state employee retirement payments, preventing future liabilities and allowing school districts to put more funding directly into classrooms.

“Each year, we are tasked with implementing a fiscally sound, balanced budget, and we have delivered that for the fourth year in a row,” said Stamas, R-Midland. “House Republicans have prioritized our spending where it is needed most – in our school classrooms, in roads and bridges, in our local communities and in our state’s future.”

Other highlights of the FY ’15 budget include:

  • An increase of $548 million to the K-12 system;
  • An additional $111.7 million for higher education and community colleges;
  • An additional $11.8 million for senior services; and
  • An increase of $7.2 million for military and veterans programs.

The budgets now goes to the governor for his signature.

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For more information about the fiscal year 2015 budget, visit http://gophouse.org/balanced-budget-invests-in-mi-future/.