LANSING, Mich. — Senate Appropriations Minority Vice Chair Jon Bumstead, R-North Muskegon, made the following statement after state fiscal and economic leaders made their economic and state tax revenue projections during Friday’s annual January Consensus Revenue Estimating Conference:
“Today’s report reminds us that the state continues to operate with historic levels of projected budget surplus while the people of Michigan continue to struggle from record inflation brought on by Washington overspending.
“Fiscally conservative leadership in the Legislature over the previous years has resulted in a fiscally sound state budget. And, thankfully, this forward thinking will soon provide Michiganders with much needed tax relief. The state’s 2022 revenue forecast is expected to trigger Public Act 180 of 2015, permanently reducing the individual income tax rate.
“We must continue to responsibly manage the state’s budget surplus to help Michiganders whose budgets are stretched further and further each month just to buy groceries and gas. This is not the time to grow the size of state government in unsustainable ways. The hardworking people of our great state do not need more government bureaucracy, they need to keep more of what they earn — after all it is their money in the first place.”