According to numbers released this week by the Senate Fiscal Agency, December 2016’s net revenue totaled $2.1 billion, an increase of 13.3% from the prior year. Revenue for the month was $134.1 million above the 2016 May consensus revenue estimates. The agency credits higher than estimated sales tax collections, individual income tax payments, and Corporate Income Tax collections. Both General Fund (GF) and School Aid Fund (SAF) earmarked collections were higher than estimated, the GF brought in $85.7 million more revenue than projected and the SAF earmarked revenue was $44.2 million higher than estimated.
Additional highlights include:
To view the full monthly report, please click here.
Michigan Legislative Consultants is a bipartisan lobbying firm based in Lansing, Michigan. Our team of lobbyists and procurement specialists provide a wide range of services for some of the most respected companies in America. For more on MLC, visit www.mlcmi.com or connect with us on LinkedIn and Twitter.