Detroit is flush with taxpayer cash.
Not its own taxpayers mind you, but nevertheless, it has a spigot it can apparently turn on at will. A Granholm era program that somehow still exists and ‘guarantees Detroit HS graduates two years of college will apparently come out of the taxes collected for schools. Even after getting the State bailout money going forward?
Duggan on Tuesday said that in the 2018-19 tax year tax dollars from the growth of the city will start to go into the scholarship fund.
“What the chamber has done is raise the money to create a bridge for that,” he said. “We can’t expect the chamber to raise scholarship money forever. This is the way that it was intended to work. They’ve done a wonderful job in the short-run. We will have funding out of the education tax in the long-run.”
The city forecasts the tax capture, once effective, would provide funding for the next two decades, ranging from $1 million per year up to $4.5 million projected in 2035, according to property value estimates rooted in the city’s bankruptcy Plan of Adjustment.
Money is fungible.
Ask your legislator how they could allow this to go on.