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Wed May 15, 2013
House says MI revenue surplus is less than Senate prediction
LANSING, MI (AP)-- Michigan could get $382 million more in revenue than projected four months ago.
That's according to a report Tuesday from the nonpartisan House Fiscal Agency. It's good news for
lawmakers and Governor Rick Snyder, though it's not as rosy a surplus as one estimated a day earlier.
The Senate Fiscal Agency projects Michigan will get $542 million more than estimated in January.
Snyder and lawmakers could use the extra money to boost spending, lower taxes or save more.
The Snyder administration and budget experts are meeting Wednesday to agree on revenue figures. Legislators aim to pass the next budget by June, though sticking points remain over Medicaid expansion and road funding.
The windfall is attributed to people selling stocks because of worries about potential tax changes before the "fiscal cliff".