State of Michigan Sees $575 Million Budget Surplus

Economists says the state of Michigan may have more money to spend.

The state is looking at a $575 million budget surplus.

The money is left over from the last fiscal year.

Governor Snyder will use the money to finalize his 2016-2017 budget.

Tax collections for Michigan’s two main funds are projected to be about $194 million higher in the current fiscal year than last year.

But they are also nearly $150 million below an estimate from last spring.

Governor Snyder will speak Tuesday in his annual State of the State address.