State Agency Reports Michigan Revenue Down From Earlier Projections

6:57 am
Wed May 14, 2014

State Agency Reports Michigan Revenue Down From Earlier Projections

Lead in text: 
Fiscal Agencies for House and Senate along with Snyder administration will settle on a figure for the state's fiscal outlook
LANSING, MI -- Michigan lawmakers debating budget bills for next fiscal year may be hit with some sobering news this week: The state's so-called "surplus" appears to be drying up. Michigan is poised to bring in $422 million less than previously projected during the current fiscal year, according to a new forecast by the non-partisan House Fiscal Agency, which is projecting another $450 million drop below January estimates for 2015.