Michigan projected to get $542M more than expected
LANSING, Mich. (AP) - Michigan could take in $542 million more in revenue than projected 4 months ago.
That's according to a report Monday from the nonpartisan Senate Fiscal Agency. It's good news for lawmakers and Gov. Rick Snyder as they work to finalize a state budget for the fiscal year starting in October.
Senate experts say Michigan could have a $739 million surplus in the current budget year. The extra money could be used to boost spending, lower taxes or be socked away in savings.
The Snyder administration and economists are meeting Wednesday to agree on budget figures. The House Fiscal Agency and state treasurer also will put out revenue projections for the meeting.
Legislators aim to pass the next budget by June, though sticking points remain over Medicaid expansion and road funding.