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Politics & Government
Tue January 7, 2014
Budget experts predict an extra $1.1 billion in state government revenues over 3 years
LANSING, Mich. (AP) - Michigan legislative budget experts say state government is taking in hundreds of millions of dollars more than expected eight months ago.
A report released Tuesday from the House Fiscal Agency in Lansing estimates Michigan collected $433 million more than projected in the last budget year and will collect about $327 million more this year.
The estimates are similar to ones given in December by the Senate Fiscal Agency. All told, lawmakers could have $1.1 billion to $1.3 billion more to work with than expected in May.
Legislators will meet Friday to get a consensus estimate on revenues. They're already talking about cutting taxes, though Gov. Rick Snyder has held off on calling for tax relief.
Next month, he will propose a budget for the fiscal year starting this October.