Statewide Taxpayers on the Hook for Detroit?

LaFaive cited in Detroit News on bailout scheme

Surplus tax revenue collected statewide and put into the state’s “rainy day fund” that is meant to pay for unforeseen statewide needs that would benefit all taxpayers is being targeted as part of Gov. Snyder’s plan to bail out Detroit, according to The Detroit News.

“I wonder how many more cities will have their hand out if the state rides to the rescue of the Motor City,” Fiscal Policy Director Michael LaFaive told The News, adding that taxpayers statewide should not have to bail out “a city that fouled its own nest.”

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LaFaive has written about the bailout plan here, here and here.

"I'm troubled that we have to give up an opportunity to improve roads in order to bail out a city that brought itself into bankruptcy," he told The News.

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