Senate budget chairman comments on updated state revenue estimate
LANSING, Mich. — After state fiscal and economic leaders at Friday’s annual May Consensus Revenue Estimating Conference released their economic and state tax revenue projections that are used to set parameters for the fiscal year 2020 budget, Senate Appropriations Committee Chairman Jim Stamas, R-Midland, issued the following statement:
“It’s good news that our economy is expected to continue improving and that the resulting tax revenues are projected to be more than January’s estimate, but it’s not a winning lottery ticket for new spending.
“This cautious forecast illustrates that we must continue making smart budget decisions that keep our state on solid footing.
“As discussions move forward on additional funding for our roads, we have a responsibility to the Michigan people to enact a balanced budget on time using real revenues.
“This week, the Senate passed a budget that shows how we can increase funding for roads and schools to record levels with existing tax dollars.
“I look forward to working with the House of Representatives and the governor to finalize a budget that provides vital services to Michigan families while we work on a responsible road funding solution.”