INSIDER
Michigans tax revenues this fiscal year will plummet severely, economists predict
Read full article: Michigans tax revenues this fiscal year will plummet severely, economists predictLANSING, Mich. Economists project Michigans tax revenues this fiscal year will plummet between $3.1 billion and $3.6 billion below prior estimates due to the coronavirus pandemic. The numbers were released Thursday before a Friday meeting at which legislative experts and Gov. Gretchen Whitmers administration will try to get a handle on the budget outlook two months after the crisis hit the state. One-third of the workforce has filed for unemployment benefits at a time schools and businesses are closed and travel is restricted to curb the spread of COVID-19. The number of confirmed cases of the coronavirus (COVID-19) in Michigan has risen to 50,079 as of Saturday morning, including 4,825 deaths, state officials report.