Some facts about Michigan's falling tax revenues

AP News
Posted: Dec 03, 2009 3:37 PM

Some facts about Michigan revenues and spending:


_In actual dollars, general fund revenue has dropped from $9.79 billion in fiscal 2000 to $6.95 billion this year, a 32 percent reduction. In inflation-adjusted dollars, revenue is down nearly 43 percent.

_General fund revenue has fallen $2.4 billion in the past two fiscal years alone, a drop of nearly 27 percent.

_School aid fund revenue is nearly $1 billion lower than it was two years ago, a fall of about 9 percent. In inflation-adjusted dollars, net school aid fund revenue is down nearly 14 percent since fiscal 2000.

_General fund spending is at its lowest level since 1996 in actual dollars _ and its lowest level since 1969 in inflation-adjusted dollars.


Source: House Fiscal Agency