Revenue in Michigan Not as Dire as Thought
Those from the Michigan Department of Treasury today announced tax revenue projects and the news was mixed.
The Detroit Free Press is reporting today that projections conflict with those outlined by The House and Senate Fiscal Agencies, that claimed the state's surplus was only about half of the $ 1 billion projected.
Numbers released this morning found the suplus was off but only by about $200 million a year.
The breakdown, according to the article, looks like this:
Down $198 million in 2013-14
Down $199 million in 2014-15
Down $200 million in 2015-16
The additional revenue was proposed to beef up funding for road improvements, education, and a rebate to taxpayers. Those proposals remain in question.
The revenue estimating conference occur twice a year.
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