70
      Saturday
      82 / 67
      Sunday
      85 / 70
      Monday
      79 / 60

      Snyder unveils $52B budget, tax cut for homeowners

      Michigan Gov. Rick Snyder is proposing a $52 billion state budget that includes a tax break for moderate-income homeowners.

      Michigan Gov. Rick Snyder is proposing a $52 billion state budget that includes a tax break for moderate-income homeowners.

      The Republican governor on Wednesday unveiled a plan to restore an income tax credit to some homeowners who lost it under a 2011 business tax cut plan. He also wants to change a calculation so more qualifying homeowners can get the tax relief.

      Residents would get refund checks this summer, and Snyder estimates 1.3 million residents could benefit overall.

      Snyder called for a 6 percent funding increase for Michigan's public universities. Their funding is down one-third from just seven years ago.

      He also proposed extra money for road and bridge maintenance thanks in part to a nearly $1 billion surplus over three years.