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March 3, 2021
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STATE BUDGET
(2008-01-10)
(wgvu) - STATE ECONOMISTS SAY MICHIGAN TAX REVENUES
WILL FALL SHORT OF EARLIER ESTIMATES BY HUNDREDS OF MILLIONS OF
DOLLARS THIS BUDGET YEAR.
BUT THE SHORTFALL LIKELY CAN BE MADE UP BY A SURPLUS IN THE LAST
BUDGET.
THAT ASSESSMENT COMES FROM THE HOUSE FISCAL AGENCY AHEAD OF A
MEETING TOMORROW WHERE STATE ECONOMISTS WILL GIVE LAWMAKERS NEW
REVENUE ESTIMATES.
THE SENATE FISCAL AGENCY GAVE A SIMILAR VIEW LAST MONTH.
THE BUDGET PROBABLY WILL BE TIGHT IN THE 2008-09 FISCAL YEAR,
THOUGH.
THERE COULD BE A MODEST FUNDING BOOST FOR K-12 SCHOOLS, BUT THE
GENERAL FUND IS EXPECTED TO HAVE LESS WHILE SPENDING PRESSURES WILL
INCREASE.
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