Agency projects Michigan will have extra $1.1 billion over 3 years
Wed, 08 Jan 2014 11:23:12 GMT —
Michigan legislative budget experts say the state government is taking in hundreds of millions of dollars more than expected eight months ago.
A report released Tuesday from the House Fiscal Agency in Lansing estimates Michigan collected $433 million more than projected in the last budget year and will collect about $327 million more this year.
The estimates are similar to ones given in December by the Senate Fiscal Agency. All told, lawmakers could have $1.1 billion to $1.3 billion more to work with than expected in May.
Legislators will meet Friday to get a consensus estimate on revenues. They're already talking about cutting taxes, though Gov. Rick Snyder has held off on calling for tax relief.
Next month, he will propose a budget for the fiscal year starting this October.