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Senate Fiscal Agency updates revenue projections

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A new report says Michigan brought in more money over the last fiscal year than previously expected.

The numbers from the state Senate Fiscal Agency say Michigan’s revenue was more than 2-and-a-half-billion-dollars higher than the previous estimate.

The report says the change is due to strong tax collection and lower-than-expected tax refunds to businesses.

The economic outlook also projects revenue for the current fiscal year to be over a billion dollars more than the last estimate.

But the high numbers are not assured. The report lists the COVID-19 pandemic as an ongoing budgetary risk.