Michigan Treasury Reaps April Surprise

By: Associated Press
By: Associated Press

State government collected more tax revenue in April than expected, but the good news isn't likely to last once numbers for May come in.

The state of Michigan brought in 19 percent more revenue last month than a year ago -- breaking a streak of five straight months where revenues fell short of year-ago levels.

But analysts attribute the strong month to the timing of when annual income and business taxes are paid, NOT that more revenue is actually being generated in the long run.

The state is facing an estimated 700 million-dollar shortfall in this budget year.

Governor Granholm and lawmakers have resolved some of the deficit, but the problem is growing because tax revenues have fallen short of projections in recent months.

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  • by vickie Location: lansing on May 11, 2007 at 05:14 AM
    I thought when granholm was running, we were only 4 million in the whole, how did it get to 700 million?
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