LANSING (WKZO-AM) — Michigan House Appropriations Chairperson Al Pscholka says work is underway to fix a combined $460 million shortfall in the budget for this fiscal year and next year.
Pscholka, R-Stevensville, isn’t panicking.
“I know there’s a bunch of people running around Lansing with their hair on fire,” Pscholka said. “This is not that huge of an issue that we can’t overcome it.”
He claims the hole was caused by low gas prices, increased personal savings and corporate income tax credits.
It’ll be patched by cuts.
“We’ve got to look at all of the problematic increases and things that were in the budget and start to trim those back,” Pscholka said. “And some reductions have already been made.”
“We’ve already cut $120 million off the governor’s proposal,” Pscholka said.
Pscholka also wants to axe an $80 million handout to state-based car insurance companies. He said the money was originally set aside to soften high insurance premiums in the state, but none of that money has reached the pockets of consumers.
