Governor Gretchen Whitmer today celebrated her administration's fiscal achievements, including signing eight balanced, bipartisan state budgets, significantly increasing state reserves, and improving Michigan's credit rating. These efforts have focused on strengthening the state's financial record without raising taxes.
Since taking office, Governor Whitmer's administration has paid down over $28 billion in long-term state debt and more than tripled reserve balances in various state funds, including the Budget Stabilization Fund. A new rainy day fund specifically for Michigan schools was also created to ensure ongoing support for education.
"Responsible fiscal leadership has been a priority for me since day one," said Governor Gretchen Whitmer. "I’m proud to have signed eight balanced, bipartisan budgets that have continuously invested in our schools, grown our economy, and lowered costs for every Michigander." She added that Michigan has also won credit rating upgrades from Fitch Ratings, a first in nearly a decade.
Further fiscal actions include paying off Michigan Public Schools Employees’ Retirement System debts early, freeing up $670 million for schools, and establishing a $75 million Public Safety Revenue Sharing program for local communities. As her term concludes, Governor Whitmer expressed pride in leaving Michigan's finances in a stronger position for a brighter future.