Michigan Economy a Mixed Bag

By: Sr. Capitol Correspondent Tim Skubick
By: Sr. Capitol Correspondent Tim Skubick

The latest July state revenue figures suggest a mixed bag for Michigan's economy.

Fostered by declining auto industry sales, the July sales tax collection on motor vehicles in Michigan were off by just over 25 percent, while the state's only business tax was down by 10 percent. On the upside, six other taxes including the income and use taxes were up.

State economist Gary Olson reports revenue projections are on target as he called July not a great month, but not a bad month either.

Michigan taxpayers did have more disposable income during July as the state refunded almost $40 million in income tax refunds, up from $24 million last year.


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