(Lansing, MI) – The state Senate Fiscal Agency has revised Michigan’s revenue forecasts lower by nearly one billion dollars. The nonpartisan agency says it is due to tariffs and economic uncertainty and adds the 2026 budget approved by the state Senate will leave the state government in a deficit. Officials predict inflation will be higher than they had predicted in January and employment growth will be slower.
State lawmakers and officials will meet at the Capitol today to reach a consensus on how much tax revenue can be expected over the next three years.
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