March Revenue Declines

March Revenue Declines

Last month, major taxes and net lottery revenue declined 24.7% from the prior year, coming in at $1.6 billion. Additionally, collections were roughly $169.6 million below prior projections from the consensus revenue estimating conference held earlier this year. Key...
March Revenue Declines

February Revenue Declines

Major tax and net lottery revenue declined in February 2024 by 23.8% from February 2023. Additionally, last month’s collections were $152.1 million below prior projections made at the biannual Consensus Revenue Estimating Conference in January. Key Points: General...
Governor Proposes Increased Education Funding

Governor Proposes Increased Education Funding

This week, Governor Gretchen Whitmer presented her budget recommendations for the next fiscal year, beginning on October 1. One of the key areas of the budget is always education and this year was no exception. The governor referred to it as a “Michigan Guarantee”...
Governor Presents Budget Recommendations

Governor Presents Budget Recommendations

Today, at Heritage Hall within the State Capitol, Governor Gretchen Whitmer presented her executive budget recommendations for the upcoming 2024 – 2025 Fiscal Year. Joined by Lt. Governor Garlin Gilchrist, State Budget Director Jen Flood, and Deputy State Budget...