LANSING, MI (WTVB) - Governor Rick Snyder and lawmakers in Lansing are trying to decide what to do with an unexpected $483 million windfall from higher-than-expected tax collections. There are a lot of ideas for spending the surplus, but most would commit the state to expanding government programs that would have to be cut back if revenue. State Senator Bruce Caswell says he’s not in favor of any expansion. He does say there are several options for the money, including not spending it at all.
Caswell says about $260-million of that new money from last week’s Revenue Estimating Conference is one-time money, because of an increase in the selling of stocks and the payment of dividends as companies and individuals anticipated changes in the federal tax law. Caswell says that money won’t be repeated.