LANSING, MI (WHTC) – The Michigan State House Wednesday passed two bills aimed at balancing the current state budget. It shifts about $250 million from the school aid fund, which had a surplus, and coupled with $93 million in cuts, would fill up most of a $456 million shortfall. Votes on both measures fell mostly along party lines.
Earlier Wednesday, the Michigan Economic Development Corporation projected that the liability for tax credits that created this shortfall could run up to nearly $9.4 billion through 2029.
