Revenue estimating projects a surplus. Now what to do with it.

In a nutshell: Economic growth is expected to continue at the same slow pace. Revised General Fund and School Aid Fund projections increase state revenues by about $500 million over the next two years; a 1 percent increase. Attention turns to the legislat...

Oops! Congress raised your state taxes. How does the Legislature propose to fix this?

In a nutshell: Federal tax reform removed Michigan’s personal exemption The Legislature wants to restore and increase the exemption Budget concerns could create problems   When President Trump signed the Tax Cut and Jobs Act[1] (TCJA) into law, it ...

Challenges Ahead Balancing the State Budget – What Could it Mean for State-Funded Public Services

With his signature in mid-July, Governor Snyder put to bed the Fiscal Year 2018 (FY2018) state budget. Eight years removed from the end of the Great Recession and benefiting from an expanding state economy and projected solid revenue growth, this year’s...

May’s Consensus Revenue Estimating Conference Lowers General Fund Projections

On May 17, key officials from the House Fiscal Agency, Senate Fiscal Agency, and the Michigan Department of Treasury met for the May 2017 Consensus Revenue Estimating Conference; the latter of two yearly meetings to estimate the state’s economic outlook...