LANSING, Mich. (Michigan News Source) – The state of Michigan’s overall budget has increased by 15.5% over the past 10 years when adjusted for inflation and reached $81.23 billion in 2024-25.
Michigan’s state budget has benefited from the increase in federal funding due to the COVID-19 pandemic.
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For example, the state received $22.84 billion in federal money in 2014-15 and that peaked to $41.34 billion in 2021-22 during the heart of the pandemic, according to the Senate Fiscal Agency.
The state’s total budget (which includes local, state, federal and private funds) was $53.24 billion in 2014-15, which increases to $70.29 billion when adjusted for inflation. The state’s total budget was $81.23 billion this fiscal year.
State spending peaked in 2022-23 at $85.67 billion and has tapered off the past two years.
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