August 06, 2017 08:27 AM
LANSING, Mich. (AP) - Tax cuts, increased road construction, past economic development incentives and other factors will combine to reduce or divert state revenue by $2 billion annually in just over four years - the equivalent of 20 percent of Michigan's general fund account.
That's a key takeaway from a report issued by the nonpartisan Citizens Research Council of Michigan. It says while the state is rebounding from two major recessions, budget turbulence is ahead due to policy choices in Lansing.
Future lawmakers will be forced to make "many difficult decisions," the report says. The $2 billion financial squeeze could be exacerbated by federal funding cuts or another economic downturn.
Created: August 06, 2017 08:27 AM
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