#factsmatter, The Citizens Research Council Of Michigan Podcast

Citizens Research Council Senior Research Associate Bob Schneider sat down today with Research Director Craig Thiel following today’s Consensus Revenue Estimating Conference (CREC) to discuss updated economic and revenue forecasts and analyze what they could mean for Michigan’s current and future budgets. Officials from the Department of Treasury and legislative fiscal agencies agreed that Michigan’s combined General and School Aid Funds will receive an additional $769 million in FY2025 and an extra $910 million in FY2026, compared to the previous May 2024 revenue forecast. Thiel and Schneider noted that the increased revenue growth in Michigan will likely ease tensions, to a degree, among policymakers' many competing priorities. Schneider remarked that the stronger-than-expected revenue growth in the School Aid Fund will be welcomed among lawmakers seeking an ongoing increase in the per-pupil foundation grant. “It makes the budget process very interesting,” said Schneider. “I’m sure road funding and tax