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At a time when the slow pace of economic recovery and continuing reductions in state and federal assistance underscore our need for strong leadership in financial management, this volume offers a deeper understanding of financial theory and practice for its own sake.
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The State of Michigan has experienced both tremendous growth and great decline in its history. After many decades of growth up to the 1950s, a wide variety of challenges had to be confronted by citizens and all levels of government in Michigan. The late 20th and early 21st centuries have seen pockets of growth but also long-term economic decline in several areas in the state. As one example, steep economic decline in major industrialized cities such as Detroit, Flint, and Pontiac led to increased unemployment rates and flight from the state as residents sought jobs elsewhere. Michigan was in fact the only state in the union to experience net population loss between 2000 and 2010. At the same time, emergencies such as the Detroit bankruptcy and the Flint water crisis have captured the attention of the national and international media, focusing the spotlight on the responses—successful or unsuccessful—by state and local government. As the state continues to deal with many of these challenges, Michiganders more than ever need a clear picture of how their state’s political institutions, actors, and processes work. To that end, this book provides a comprehensive analysis of Michigan’s politics and government that will help readers better understand the state’s history and its future prospects. Chapters elucidate the foundational aspects of the state’s government (the Michigan Constitution and intergovernmental relations); its political institutions (the state legislature, governor, and court system); its politics (political parties and elections); and its public policy (education, economic development, and budget and fiscal policy). The book’s four themes—historical context, decline, responses to challenges, and state-local government relations—run throughout and are buttressed by coverage of recent events. Moreover, they are brought together in a compelling chapter with a particular focus on the Flint water crisis. An ideal fit for courses on state and local government, this thorough, well-written text will also appeal to readers simply interested in learning more about the inner workings of government in the Great Lakes State.
For the past 20 years, corporations have been receiving huge tax breaks and subsidies in the name of "jobs, jobs, jobs." But, as Greg LeRoy demonstrates in this important new book, it's become a costly scam. Playing states and communities off against each other in a bidding war for jobs, corporations reduce their taxes to next-to-nothing and win subsidy packages that routinely exceed $100,000 per job. But the subsidies come with few strings attached. So companies feel free to provide fewer jobs, or none at all, or even outsource and lay people off. They are also free to pay poverty wages without health care or other benefits. All too often, communities lose twice. They lose jobs--or gain jobs so low-paying they do nothing to help the community--and lose revenue due to the huge corporate tax breaks. That means fewer resources for maintaining schools, public services, and infrastructure. In the end, the local governments that were hoping for economic revitalization are actually worse off. They're forced to raise taxes on struggling small businesses and working families, or reduce services, or both. Greg LeRoy uses up-to-the-minute examples, naming names--including Wal-Mart, Raytheon, Fidelity, Bank of America, Dell, and Boeing--to reveal how the process works. He shows how carefully corporations orchestrate the bidding wars between states and communities. He exposes shadowy "site location consultants" who play both sides against the middle, and he dissects government and corporate mumbo-jumbo with plain talk. The book concludes by offering common-sense reforms that will give taxpayers powerful new tools to deter future abuses and redirect taxpayer investments in ways that will really pay off.
The economic activity that drives growth in developing countries is heavily concentrated in cities. Catchphrases such as “metropolitan areas are the engines that pull the national economy” turn out to be fairly accurate. But the same advantages of metropolitan areas that draw investment also draw migrants who need jobs and housing, lead to demands for better infrastructure and social services, and result in increased congestion, environmental harm, and social problems. The challenges for metropolitan public finance are to capture a share of the economic growth to adequately finance new and growing expenditures and to organize governance so that services can be delivered in a cost-effective way, giving the local population a voice in fiscal decision making. At the same time, care must be taken to avoid overregulation and overtaxation, which will hamper the now quite mobile economic engine of private investment and entrepreneurial initiative. Metropolitan planning has become a reality in most large urban areas, even though the planning agencies are often ineffective in moving things forward and in linking their plans with the fiscal and financial realities of metropolitan government. A growing number of success stories in metropolitan finance and management, together with accumulated experience and proper efforts and support, could be extended to a broader array of forward-looking programs to address the growing public service needs of metropolitan-area populations. Nevertheless, sweeping metropolitan-area fiscal reforms have been few and far between; the urban policy reform agenda is still a long one; and there is a reasonable prospect that closing the gaps between what we know how to do and what is actually being done will continue to be difficult and slow. This book identifies the most important issues in metropolitan governance and finance in developing countries, describes the practice, explores the gap between practice and what theory suggests should be done, and lays out the reform paths that might be considered. Part of the solution will rest in rethinking expenditure assignments and instruments of finance. The “right” approach also will depend on the flexibility of political leaders to relinquish some control in order to find a better solution to the metropolitan finance problem.
The book discusses a university partner-the UM School of Social Work Technical Assistance Center (SSW-TAC)-with an embedded foundation driven initiative for neighborhood change to improve outcomes of youth before, during, and after the massive economic and demographic transformation of Detroit between 2006-2015.