A state budget panel has determined that Michigan’s budget picture is bleak, but not as bad as the forecasts from earlier this year. We have more from Rick Pluta.
The numbers are still being finalized, but budget cuts for the upcoming fiscal year will be less than a billion dollars. That’s largely due to rounds of federal assistance that led to unexpected levels of consumer spending. State Budget Director Chris Kolb said that’s good news, but the budget hole remains large and will require painful spending cuts. He also said budget decisions will be affected by COVID-19.
“Until COVID-19 is defeated, uncertainty is the word when it comes to revenues and their impact on the budget.”
Kolb said he’s already in discussions with the Legislature on a budget-balancing plan.
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