LANSING, Mich. (AP) — Michigan’s two main funds will take in billions more than previously forecast, economists said Friday, again delivering good news to Gov. Gretchen Whitmer and lawmakers before a budget cycle.
The combined additional tax revenues over the last, current, and next fiscal year are more than $5.8 billion above projections from last spring.READ MORE: Small Businesses In Michigan Saw Record Job Growth In 2021, Data Says
The Democratic governor in coming weeks will present a spending plan to the Republican-led Legislature that is focused on supporting education, clean water, and jobs, budget director Christopher Harkins said.READ MORE: Peace Officer Awards Ceremony Honors Life-Saving Heroes, First Responders In Oxford High School Tragedy
“A lot of these revenues are one-time. So we’re going to need to make sure that we are focusing our spending and appropriations plan accordingly,” he said.
Fiscal experts attributed the latest surplus largely to federal pandemic relief aid that has helped to boost incomes and consumer spending despite COVID-19.MORE NEWS: Comcast Rise Awarding Grants To 100 Minority-Owned Small Businesses
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