Next Mich. Governor To Face Large Budget Deficit 10-21-2010 - WNEM TV 5

Next Mich. Governor To Face Large Budget Deficit 10-21-2010

Gubernatorial candidates Rick Snyder and Virg Bernero claim they don't plan to raise Michigan residents' taxes and that they'll cut business taxes so companies can create more jobs.
Fulfilling those promises could turn the job of balancing Michigan's next budget into a Herculean task.
Michigan already has done a lot of cutting.
The nonpartisan Senate Fiscal Agency reported earlier this month that state spending in Michigan has increased by a total of just 3 percent over the past 10 years.
The fiscal agency also said Michigan will face a $1 billion shortfall in the budget year that starts next Oct. 1.
The nonpartisan Citizens Research Council puts the deficit even higher, at $1.5 billion.
The hole would grow if the candidates cut taxes.
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