Michigan state revenue flatlines for 2019, 2020
State fiscal agencies convened at the Capitol Friday to break down their projections for Michigan’s finances as budget negotiations continue between Democratic Gov. Gretchen Whitmer and Republicans in the state Legislature.
The House Fiscal Agency, Senate Fiscal Agency and Department of Treasury said that there’s now $83.3 million more in the state’s coffers for fiscal year 2019 than they estimated back in January.
At the Friday Consensus Revenue Estimating Conference (CREC), fiscal heads announced the General Fund had an increase of $151.7 million compared to their previous estimate, but there was a $68.2 million decrease in Michigan’s School Aid Fund.
Whitmer has proposed a $60.2 billion Fiscal Year 2020 budget. She and GOP leaders must reach a deal by Sept. 30 to avoid a government shutdown. The CREC found that there will be $27.8 million in FY 2020 revenue for the state than previously expected.
Read more: https://www.michiganadvance.com/2019/05/17/michigan-state-revenue-flatlines-for-2019-2020/