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Michigan projects 'staggering' drop in tax revenues

America itself is emerging as tax haven
Posted at 10:34 AM, May 17, 2020
and last updated 2020-05-17 19:59:21-04

LANSING, Mich. (AP) — Michigan will confront multibillion-dollar declines in tax revenue combined with record-high enrollment in government health insurance programs. It's a double whammy from the coronavirus pandemic that may lead to major service cuts.

Legislative experts and top officials in Gov. Gretchen Whitmer’s administration agreed to revised budget estimates Friday. The steep downward revision from revenue estimates issued just four months ago — nearly $6.3 billion this combined fiscal year and next — is unprecedented.

The Whitmer administration is calling on Congress to send aid to the state, noting it happened during the Great Recession.