State economists in Michigan provided their final fiscal forecast of the year as lawmakers work to finalize a budget ahead of a self-imposed July 1 deadline. This year’s tax revenue is projected to be approximately $31.7 billion, reflecting a slight increase from January’s estimate. Revenues are anticipated to grow gradually, reaching $32.4 billion for the fiscal year starting October 1. The following year, a further increase of about 3.2% is expected. Michigan Gov. Gretchen Whitmer outlined a $80.7 billion budget with a boost in education spending earlier this year. The Michigan House and Senate are now working to come to an agreement on a budget before sending it to Whitmer for final approval.
