Michigan lawmakers get final revenue estimates as they push to finalize the state budget

State economists in Michigan provided their final fiscal forecast of the year as lawmakers work to finalize a budget ahead of a self-imposed July 1 deadline. This year’s tax revenue is projected to be approximately $31.7 billion, reflecting a slight increase from January’s estimate. Revenues are anticipated to grow gradually, reaching $32.4 billion for the fiscal year starting October 1. The following year, a further increase of about 3.2% is expected. Michigan Gov. Gretchen Whitmer outlined a $80.7 billion budget with a boost in education spending earlier this year. The Michigan House and Senate are now working to come to an agreement on a budget before sending it to Whitmer for final approval.