Webinar
10 AM – 11 AM EDT
Navigating the Webinar
We cover a lot of ground in this webinar, discussing several topics. Here is a chapter index to help if you want to jump to a particular part of the discussion:
Size of the budget challenge (11 minutes, 30 seconds)
Compared to recent recessions – General Fund (15:20) School Aid Fund (17:10)
How the rainy day fund will help (18:00)
Increased demand for some services (20:30)
How to fill a hole this big (23:10)
Where are we in the budget process? (25:30)
Where does state tax dollars go? (28:00)
Impact on the School Aid Fund and school districts (28:50)
Impact on state revenue sharing (37:00)
Impact on highway funding (40:00)
Impact on property values and property tax revenues (41:00)
Impact on city income tax revenues (45:05)
The public health apparatus (45:40)
Question and Answer session (50:50)
The COVID-19 pandemic has caused a recession. While the federal CARES Act is providing some funding to stabilize the economy, the financial condition of state and local governments has not yet been addressed with federal funding. A one-hour webinar presented by the Citizens Research Council and MIRS News Service will discuss the condition of Michigan government finances and anticipate how they will be affected by the pandemic-induced recession.
