For Immediate Release
Jan. 16, 2013
Contact: Jennifer Murray
Colbeck comments on State of the State address
LANSING, Mich.—On Wednesday night Sen. Patrick Colbeck, R-Canton, issued the statement below following Gov. Rick Snyder’s State of the State address.
“Michigan is well on its way to creating a healthy economic climate that brings new jobs to our state and better opportunities for our families. In his State of the State address, Governor Snyder outlined many of the initiatives we’ve undertaken over the last two years to bring about this real change in Michigan. It is remarkable just how far we’ve come in two years.
“The budget is structurally balanced. When the Senate took office in January 2011, the state was facing a $1.5 billion budget deficit. Now, in January 2013, the state budget is balanced and there is more than $500 million in the state’s rainy day fund. That’s a $2 billion turnaround in just under two years.
“Long term debts have been paid down. In the past two years we have reduced our unfunded liabilities by more than $21 billion.
“Michigan now has one of the fairest tax systems in the nation. The job-killing Michigan Business Tax has been eliminated and replaced with a fairer, flat 6 percent corporate income tax. Tax loopholes and credits have been eliminated and Michigan has turned on a dime from having one of the most complicated and unfair tax codes in the nation to one of the simplest and fairest tax codes.
“In 2010, Michigan’s unemployment rate averaged 12.6 percent; this past year it’s under 9 percent. Since January 2011, Michigan has gained 67,500 jobs and in the last year home sales increased 11 percent over 2011 sales. Michigan ranks near the top in each of these categories compared to other states. These are strong economic indicators that our state is on the right path and the policies we’ve put in place over the last two years are working.
“The changes we’ve made over the last two years have laid a foundation for job creation and education reform in our state. Our job now is to leverage these changes and use them as building blocks for even greater growth and prosperity in Michigan.
“We will continue our work to turn our economy around and create more and better jobs. We will focus on living within our means when it comes to the budget. And we will continue to promote educational excellence through parental empowerment and local control.
“Michigan has made tremendous strides in the last two years. While there is still work to do, we are clearly on the path to a more stable, secure and prosperous Michigan for all of our residents. ”