State to hold revenue estimating conference

Posted at 7:23 AM, May 17, 2016
and last updated 2016-05-17 08:47:20-04

The state's top economists will get together tomorrow morning to figure out just how deep of a financial hole Michigan is in right now.

The annual revenue-estimating conference will set the official numbers lawmakers have to use the balance the budget.

The house and senate fiscal agencies are projecting tax revenue will be $200 million less than expected for the current year and $305 million for next year.

That's because retail sales and corporate profits are down.

We'll be covering the conference tomorrow and will have updates on air and online.