Snyder Presents 2015 Budget Plan

Governor Rick Snyder in Lansing today proposed a 52 billion dollar state budget for 2015 that includes a six percent pay increase in the higher education budget, and a tax break for more homeowners in the state. The Governor’s spending proposal for next year also includes a three percent increase for k-12 spending, along with increases in road and bridge funding and pre-schoolers. Michigan’s 15 publicly funded universities have said they’ve been underfunded after peaking at just under two billion dollars in 2002. That compares to the current year, where $1.43 billion is being spent. The governor is also proposing a tax relief plan that includes just over 100 million dollars toward restoring more of the Homestead Property Tax Credit. Under the governor’s proposal, those with incomes up to 60-thousand dollars would be eligible. The budget proposal also includes nearly 72 million dollars to implement expanded Medicaid coverage.