LANSING, Mich. (AP) – Michigan’s tax revenue projections have changed little since eight months ago, meaning Gov. Rick Snyder and lawmakers are seeing no big surprises as they prepare to work on the next state budget.
The Snyder administration and legislative economists agreed to revised numbers Thursday. Combined revenue in the $23 billion school aid and general funds is just $13.1 million more than previously estimated for the current fiscal year and $16.4 million lower than past estimates for the next budget year.
Economists are projecting steady economic growth in coming years along with wages and salaries growing by more than inflation.
The Republican governor will propose his budget in February. Talk of a tax cut is growing in the GOP-led Legislature.