Whitmer Statement on Stronger Economic Outlook

May 21, 2021

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Governor Whitmer Statement on Stronger Economic Outlook and Higher State Revenue Forecast

LANSING, Mich. — Governor Gretchen Whitmer issued the following statement after experts at the Consensus Revenue Estimating Conference (CREC) revised previous estimates as Michigan’s economic outlook continues to grow stronger. As the administration pushes forward with its plan to put Michigan back to work, the state went from a projected budget deficit of more than $3 billion to now having a surplus of $3.5 billion in addition to the billions in federal funding from the CARES Act and the American Rescue Plan Act, and the state is expecting the largest baseline revenue growth in nearly 20 years at 9.7%.

“The revised revenue projections demonstrate our success in effectively handling the pandemic and helping the economy recover quickly. These numbers are a sign of brighter days ahead for Michigan’s families, communities, and small businesses,” said Governor Gretchen Whitmer. “By leading with science and data from the start, we weathered the storm of COVID-19, and took our state from a projected $3 billion deficit to a $3.5 billion surplus. Things are looking up. After a once-in-a-century pandemic, we are gearing up to jumpstart the economy. Together, thanks to the millions of Michiganders who have gotten vaccinated and those who served on the frontlines of the pandemic, we will make sure that Michigan families and small businesses can emerge from the pandemic stronger than ever. Soon, we will be 100% open and have the Independence Day and summer that we all crave. Going forward, our task is simple: build back better. With the federal relief funds headed our way and higher state revenues than expected, we can make lasting, transformative investments in our future, create tens of thousands of good-paying jobs, build up our crumbling infrastructure, support our kids and schools, and get back to a new normal as a stronger, more resilient state.”