Snyder Proposes Increasing Rainy Day Fund, Avoids Talk Of Tax Cuts

Governor Rick Snyder is proposing to grow Michigan’s savings account, known as the Rainy Day Fund, to $1 billion as he layed out his new budget on Tuesday. State Budget Spokesman Kurt Weiss told Michigan News Network the governor’s plan does not call for a Republican proposal to reduce the state income tax.

“He’s always open to having the discussion with the legislature,” Weiss said. “He just wants o make sure, if we’re going down that path, we do it in a responsible way that protects critical programs.”

Weiss says it’s smart to save money because of “one-time” tax revenues and looming budget pressures, especially to healthcare. Lawmakers voted to permanently shift general funds to road repairs starting in 2018.