Michigan Treasury Publishes 3-Year Financial Outlook
Citations: Economic and Revenue Outlook: FY 2019-20, FY 2020-21 and FY 2021-22
SUMMARY BY TAX ANALYSTS
The Michigan Department of Treasury published a report analyzing the state's financial outlook for the next three fiscal years, noting that COVID-19 will drive down revenue in fiscal 2020 by 17.4 percent, but that fiscal 2021 and 2022 could see increases of 0.9 percent and 7.6 percent, respectively.