Absolute Michigan's Michigan Blog: Michigan Budget Could See Major Hit from Smaller Tobacco Payments

Monday, March 13, 2006

Michigan Budget Could See Major Hit from Smaller Tobacco Payments

MITECHNEWS.COM reports that Michigan could lose $49.3 million of its anticipated $274 million in the Tobacco settlement. Companies involved say they have lost market share and argue that they should be able to drop payments by 18%, a decision that could weigh heavily as the state prepares its 2007 budget, and could impact the plans for the state to invest $2 billion to develop high-tech businesses.

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# posted by farlane @ 8:55 AM

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