Economic Development and Government

Michigan eyes $483M more in tax revenue than expected

May 15, 2013
| By AP |
TAGS tax
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Gov. Rick Snyder and lawmakers have hundreds of millions of dollars more than expected when working to finalize Michigan's next budget.

The Snyder administration and economists on Wednesday agreed the state will take in $483 million more in tax revenue than forecast four months ago.

The consensus revenue estimate is good news as legislators try to meet a June 1 goal of finalizing a spending plan for the next fiscal year.

Sticking points remain over Medicaid expansion and road funding.

Snyder says some of the extra money should go to road maintenance if his proposed gasoline tax and license plate fee increases remain stalled in the Republican-led Legislature.

Democrats say more should be spent on education and tax increases on individuals should be repealed.

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