Michigan Could See Another Budget Shortfall

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May 14, 2008 - 8:36PM

It could be deja vu all over again here in Michigan.

Fiscal experts say inspite of last year's increases in personal income and business taxes Mchigan could face a $300 million defecit in the next budget year.

Reasons for the projected shortfall include national economic slowdowns and the cost of new subsidies to entice the film industry to make movies in the state.

Governor Granholm's administration will meet with experts Friday to agree on how much tax revenue the state can expect to collect this year and next.

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