LANSING, Mich. — State Sen. Lana Theis, R-Brighton, issued the following statement after the Democrat-led Senate recently passed legislation to allow for the shift of $670 million away from the public school teacher retirement fund in order to fill gaps in the fiscal year 2025 budget:
“My colleagues and I have gone to great lengths to tackle the hole in the underfunded Michigan Public School Retirement System in recent years.
“In addition to paying down debt, we also worked to save up a $9 billion surplus so we could afford to pay our bills and not rely on this type of shifty, backroom accounting or going to taxpayers with our hands out asking for more.
“After the Democrat majority blew nearly the entire $9 billion surplus last year, the current budget relies on an income tax increase and now taking from our teachers to balance the books on this bloated spending plan.
“This is not a pool of free money to be used to prop up partisan overspending; it is money that has been promised to people who have worked their entire lives for — money that we’ll have to pay back. This funding bill will stack even more debt for future generations to deal with, which has been a staple of Democratic accounting in recent years.
“This is an example of why we pay our bills on time and save our money. The irresponsible overspending from the current majority is what put us in this position, and now they’re relying on taxpayers to again bail them out of their ill-advised, partisan priorities with income tax increases and raiding the retirement of Michigan teachers.
“I opposed this legislation and will oppose any spending plan that relies on taking more from Michigan taxpayers.”
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