MICHIGAN: Administration, House, & Senate Revenue Forecasts, Fiscal Years 2021-2023
While the economic forecast and the predictions are muddled by the ongoing pandemic, the forecast has improved since the onset of the pandemic last March and today the estimates for the next budget saw a narrowing of the anticipated revenue gaps compared to previous estimates.
Here are the numbers:
The revenue picture improves and sees growth but even the $505.3 million decline is an improvement of $1.2 billion from the August consensus estimate.
With the estimate finalized the Governor and her team will prepare and present her budget to the legislature and the work to put a balanced budget in place before the Constitutionally required October 1 deadline will begin.
Click here for the executive summary.
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