(Source: MIRS.news, Published 09/01/22) House Appropriations Committee Chair Thomas Albert (R-Lowell) said now is not the time for state government to spend more money, opposing the pursuit of a budget supplemental this fall.
In a statement, Albert said: "We are in the early stages of a recession and there is no way to tell how bad this economic contraction may get. There are no guarantees tax revenues will come into state government as previously anticipated.”
He cited increased government spending from federal policies that has “fueled the runaway inflation and other economic problems our nation has suffered this year,” as yet another reason to nix supplemental budget spending.
“We shouldn’t add more fuel to the fire,” Albert said. “We must act responsibly at the state level and not make things worse.”
Instead, Albert said he believes it’s necessary to keep money in reserve to fulfill budget obligations already made, as well as to provide Michiganders with tax relief to fight inflation and “weather the worsening economy.”
But Albert did say he would consider proposals on a case-by-case basis to utilize the roughly $230 million left over in the state’s Strategic Outreach and Attraction Reserve (SOAR) Fund.
“SOAR has resources that are already allocated for consideration of projects if and when the time comes,” he said. “But I cannot support additional allocations until we have some clarity on the direction of the economy.”
The state budget office did not respond to a request for comment by 6 p.m Thursday.
