Michigan revenues still soaring, but officials warn of recession risk
Soaring state tax revenues continue to shock forecasters from Michigan's two legislative fiscal agencies. Friday estimates were revised upward by $5B.
Source: freep.com
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Michigan's budget surplus surges to $6B, but future growth expected to slow
Michigan is once again raising its expectations for tax revenue after higher than expected hauls in sales, use and income tax revenue
Source: detroitnews.com
Senate OKs 6-month suspension of state gas tax, but a veto is likely
The Michigan Senate voted Tuesday to suspend the state's 27-cent-per-gallon gas tax, setting up decision from Gov. Gretchen Whitmer.
Source: detroitnews.com
Michigan tax revenue forecast up again, despite grim pandemic predictions
Michigan is expected to have $1.7 billion more to spend in fiscal year 2022 than initially predicted in May 2021.
Source: detroitnews.com
With federal stimulus, experts now foresee a big revenue upswing for Michigan
Michigan State Capitol. Michigan budget experts are now estimating a much more optimistic economic outlook for Fiscal Year (FY) 2021 than was estimated four months ago, thanks largely to federal COVID-19 relief funds. This comes one day after Gov. Gretchen Whitmer and GOP legislative leaders announced that they had agreed to negotiate on federal COVID spending, next year’s budget and pandemic orders. During the year’s final Consensus Revenue Estimating Conference (CREC) on Friday, top officials from the Treasury Department and the nonpartis...
Source: metrotimes.com