Michigan’s economy will continue to grow for the foreseeable future, and state tax revenues will remain flat. That’s the determination of a state board that helps Governor Whitmer and the Legislature craft a budget for the coming fiscal year.
The state budget board foresees continued economic growth, but at a slower pace. And it sees pressures that will likely whittle away at projected increases in revenue.
Rachel Eubanks is the state treasurer. She says that means there’s not much room to do new things without new revenue.
“We’re seeing the economy continue to grow, although at a more-modest pace, but still growing, and revenues are looking pretty flat. So, going into the next cycle, that’s what should be expected.”
Governor Whitmer is expected to renew her call this year for more revenue for schools, roads, and infrastructure. The Democratic governor’s fight with Republican leaders over the last budget delayed finalizing a plan well into the current fiscal year.