Some facts about Michigan’s falling general fund and school aid tax revenues

Some facts about Michigan’s falling tax revenues

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