Michigan tax revenue projections see little change

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.

We welcome thoughts and comments from our viewers. We ask that everyone keep their remarks civil and respectful. Postings that contain profanity, racist, or potentially libelous remarks will be deleted. We will delete any commercial postings, as well.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s