Michigan's $75 Billion Budget, Explained (with Steve Watson)

There's a ton of useful information in today's Daily Detroit, and you'll walk away with a better understanding of how our state works. I'm joined by longtime budget expert Steve Watson of Watson & Yates to unpack Michigan's new state budget and what it actually means for our lives. We get into why "flat" funding can feel like a cut once inflation hits, what's in the budget for schools and public transit, and a handful of key earmarks here in Detroit — from the Auto Show to free bus rides for students and Right to Counsel. We also talk about new and renewed tools to keep people in their homes, including the Pay As You Stay program and a state-level low-income housing tax credit. Then, our conversation turns to economic development and the transformational brownfield deal that could help reshape the Renaissance Center. Plus, why development math is getting harder to make work, and the hard financial truth about why housing here requires state and local subsidies and incentives to get done. Finally, Steve and I dig into what real, practical reform around property taxes could look like in the years ahead to help get Michigan's residents back on economic track.  As always, check out his Substack: https://watsonyates.substack.com/ And of course, follow Daily Detroit on Apple Podcasts, Spotify, or wherever you get shows.