Gov. Gretchen Whitmer has approved the historic $81.7 billion state budget for Fiscal Year 2024, which passed in a balanced, bipartisan fashion with a focus on growing the economy, lowering costs, and supporting student success. The Detroit Regional Chamber’s legislative priorities are well represented in the budget, and many of the programs the Chamber advocates for saw continued or increased funding.
The “Make it in Michigan” budget includes a general fund total of $15.2 billion and a School Aid Fund total of $19.4 billion.
See below for a breakdown of the budget and the Chamber’s perspective:
Education and Talent
The FY24 budget aims to get kids back on track and support student success. The budget continues historic public education investments, including:
- 5% increase in the foundation allowance for all K-12 schools ($458 per pupil)
- Increase in funding and lower age requirement to expand Michigan Reconnect Program to 350,000 people
- $10M towards a FASFA Completion Challenge in which a school will receive $50 per student that fills out a FASFA form
- $50 million increase in Michigan Achievement Scholarship
- 9% increase in community college operations
- $200 million increase in funding for at-risk students, a $300 million increase for special education students, and a $13 million increase for English language learners
- 4% increase in higher education operations funding
- $37 million for College Success Fund and student wrap-around services