The state of Michigan is apparently swimming in money, and Gov. Rick Snyder wants to use the surplus to answer a call for help from deteriorated roads and bridges in the region.
The House Fiscal Agency said Michigan could be looking at state tax revenues at $382 million more than what was forecasted in January. For FY 2014, the surplus could be $166 million more than what Snyder planned for in his $50.7 billion budget. The numbers are bolder on the Senate side--+$542 million in revenue for its General and School Aid fund and +243.4 million for FY 2014.
With state legislators hemming and hawing over a transportation funding package, Snyder is wondering if they would be open to using some of the chunk of bonus dollars for road and bridge repair projects around the state.
“I think that’s a healthy discussion we’ll have with legislators,” he said.
Michigan’s Treasury Department was expected to release its revenue projections May 16 after both the House and Senate reached a compromise as to how much in additional funds will be available.
Snyder has a long list of transportation projects that needs to be addressed, and wants lawmakers to come up with a way to raise $1.2 billion.