Font size:
A Pontiac movie studio hoping to cash in on Michigan’s film subsidy program will fail to make its February bond payment, according to the Detroit Free Press. The Michigan State Employees Retirement System, which guaranteed the $18 million worth of bonds, will have to make the $630,000 payment.
“Those who championed this program should be on the hook for paying the debt, not pensioners,” Michael LaFaive, director of the Center’s Morey Fiscal Policy Initiative, told the Free Press.
The Livingston Daily Press & Argus also has coverage of the issue, and The Detroit News cites this commentary by Senior Legislative Analyst Jack McHugh on the subject.
Get insightful commentary and the most reliable research on Michigan issues sent straight to your inbox.
The Mackinac Center for Public Policy is a nonprofit research and educational institute that advances the principles of free markets and limited government. Through our research and education programs, we challenge government overreach and advocate for a free-market approach to public policy that frees people to realize their potential and dreams.
Please consider contributing to our work to advance a freer and more prosperous state.
