Michigan Chamber Calls for Prompt Action on State Budget Following Revenue Estimating Conference

PRNewswire
LANSING, Mich.
May 13, 2003

The Michigan Chamber of Commerce called for prompt legislative action to adopt a state budget for next year following conclusion of the consensus revenue estimating conference involving key state officials earlier today.

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"The Granholm Administration, State House and Michigan Senate now have all the information state policymakers need to roll up their sleeves and really get to work on balancing the state budget by reducing spending," said Michigan Chamber President & CEO Jim Barrett. "Enacting a balanced budget by the Fourth of July should be job #1 for the legislature and the administration."

During today's revenue estimating conference several economists noted that the current economic slowdown has had a serious impact on Michigan's working families and job providers. A number of economists also noted that a decline in business investment continues to be a drag on both the state and national economies.

"Last week, legislative leaders wisely rejected most of the administration's proposed tax increases. With unemployment up and profits down, these tax increases would have had a negative impact on employment and business investment in Michigan. It's time for state government to tighten its belt. We urge the legislature and administration to work together to do what must be done to reduce government spending," Barrett concluded.

The Michigan Chamber of Commerce is a statewide business organization that represents approximately 6,500 employers, trade associations and local chambers of commerce. The Michigan Chamber was established in 1959 to be an advocate for Michigan's job providers in the legislative, political and legal process.

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SOURCE: Michigan Chamber of Commerce

CONTACT: Jim Barrett, President & CEO of Michigan Chamber of Commerce,
+1-517-371-2100

Web site: http://www.michamber.com/


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