© 2021 MICHIGAN RADIO
91.7 Ann Arbor/Detroit 104.1 Grand Rapids 91.3 Port Huron 89.7 Lansing 91.1 Flint
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations
Economy

Michigan projected to get $542M more than expected

snyder_signsRTW.JPG
Steve Carmody
/
Michigan Radio

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.

Related Content