April 21, 2007

Michigan revenues show steepest slide in nation

Detroit News:
"Gov. Jennifer Granholm and legislative leaders resumed closed-door state budget talks Thursday, even as a new report showed Michigan's fiscal nosedive is unparalleled across the nation.

This state's revenues are down $556 million, or 2.7 percent compared with last fall's projections.

That's a steeper drop than any other state, a study by the nonpartisan National Conference of State Legislatures shows.

Most states are generating the amount of revenue they expected, and 15 are taking in more than expected.

At least a dozen states are considering tax cuts, the report shows."

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