Snyder To Make His Budget Proposals

Governor Rick Snyder will propose growing Michigan’s savings account to $1 billion, even as Republican lawmakers push for an income tax cut.

The Republican will unveil his budget plan today and will not include tax cuts.

Lawmakers voted to permanently shift general funds to road and bridge repairs starting in 2018 as part of a 2015 transportation funding deal.

Other squeezes include Medicaid expansion costs and the phase-out of business equipment taxes.

Snyder also will propose directing $1.2 billion to the teacher retirement system.