State officials agreed May 16 to revise downward state revenue projections by $456 million over the next two years, largely due to President Donald Trump’s tariff policies, which one forecaster said will cost Michigan 13,000 jobs from the auto sector alone.
Still, Treasurer Rachael Eubanks, Budget Director Jen Flood and other officials said they expect economic growth will continue in Michigan, but that it will be slower than what was forecast in January, when the last revenue estimating conference was held. That means the 2026 budget that state lawmakers are now working on will be tighter than anticipated.
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