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State revenue surplus less than originally anticipated

LANSING, MI (WTVB) - The bean counters in Lansing, the men responsible for estimating how much the state will have to spend over the next two years, said this week there is a lot less to spend that earlier projected, erasing most of the surplus that has been the basis for this year’s budget planning. House Speaker Jase Bolger says there is still a surplus, just a much smaller one. Karen Holcomb-Merrill at the Michigan League for Public Policy says its more proof that the Michigan Economy is still sputtering. She says they hope they don’t rush to judgment.

The Revenue Estimating Committee says the legislature has about $616-million less to work with than they estimated there would be just a few months ago.