According to MIRS in Lansing the state's 4.35 percent income tax is set to be cut one-tenth of a percent on April 1, 2013, under a deal in principal reached on Fiscal Year (FY) 2013 budget targets.
MIRS has learned that comes with a price tag between $80 and $100 million. The state surplus is pegged at $300 million.
What to do with the rest of this surplus? You can be almost postitive that it will go to school funding.