State Rep. Diana Farrington and the Michigan Legislature today approved a bipartisan budget to support Michigan schools, public safety, and other important services.
The plan will fund state government for fiscal year 2023, which begins Oct. 1 of this year, while saving billions of dollars for possible tax relief.
“Our budget funds the important priorities of Michigan families — education, transportation, law enforcement, and other indispensable services,” said Farrington, R-Utica. “I’m also proud that we’re prioritizing important savings, from investing in the rainy day fund, to paying down debt, and to potential tax relief. These savings will place both Michigan residents and our government in a better position for the long term.”
Highlights of the budget include:
Educating students: The school aid budget allocates a record $19.6 billion to support education for Michigan students. After last year’s budget provided schools with equal per-pupil foundation allowance funding for the first time, the new plan increases the amount of each grant from $8,700 per student to $9,150. The Great Start Readiness Program for at-risk preschoolers will also receive $9,150 per child. Increased investments will support special education, bringing the total to $1.92 billion, and additional help for at-risk students, a total of $747.5 million. Keeping students safe remains a top priority, with $168 million for school safety grants and $25 million for school resource officers. Other funds will help support student mental health.
Fixing roads: The plan continues to repair roads and bridges in Michigan, building on a $4.7 billion plan passed in March, which funded roads, bridges, dams, broadband equipment, and other infrastructure.
Boosting workers and local businesses: The plan provides resources for a variety of programs to help Michigan workers and businesses thrive, including community and economic development, job training like the Going PRO Talent Fund, and other efforts.
Saving taxpayer dollars: Strategic investment, saving, and debt reduction in the budget will conserve resources entrusted to the state by Michigan residents. The plan preserves billions of dollars that can be used to offset relief for Michigan taxpayers. Already this year, the Legislature has approved multiple bipartisan tax relief plans — a gas tax pause and two proposals for income tax relief — but the governor vetoed all three efforts. A $180 million deposit will bring the balance of the state’s “rainy day fund” above $1.5 billion. The plan puts down a total of roughly $2.6 billion to reduce the debt of public retirement systems, including for local government employees, educators and school staff, and the Michigan State Police.
The budget, contained in House Bill 5783 and Senate Bill 845, now advances to the governor, who is expected to approve it.
Rep. Farrington says that when 8th graders return to class this time next year, a new state law will require them and the classes following them to complete a half-credit personal finance course to graduate from high school. The plan, Public Act 105 of 2022, was approved by the Legislature and signed into law over […]
State Rep. Diana Farrington, chair of the House Financial Services Committee, today celebrated Michigan students who will learn critical knowledge and skills in a personal finance course that will be required across the state under her plan that was signed into law this afternoon.
With overwhelming bipartisan support, the Michigan House of Representatives today approved state Rep. Diana Farrington’s plan to teach Michigan students how to manage their personal finances.