The state's revenues are lower than expected. Here's why
The state’s revenues are going to be lower than expected this year. Zoe Clark and Rick Pluta, Michigan Radio’s It’s Just Politics team, discuss why that is, and what it means for the state’s hot-button issues.
Pluta said the economy is recovering, but not as quickly as anticipated.
“And so what we’re seeing is, in particular, corporate income tax and state sales tax revenues are coming in less than expected,” he said.
This is happening as “some big new demands are being made on the state,” Pluta said, those being infrastructure issues and Detroit Public Schools deficits.
The duo also talks about the Consensus Revenue Estimating Conference taking place in Lansing tomorrow. There the state will come to an agreement on how much money it actually has.