mLive reports that mid-year state budget cuts (a Michigan tradition since 2001) could be averted as higher tax revenues and unspent funds have produced an unexpected surplus of nearly $320 million in Michigan's treasury. Business tax cuts will cost $60-$100 million in fiscal 2006, and a House-passed measure pending in the Senate would provide about $35 million in additional revenue to schools.

Read State closes fiscal 2005 with $220M general-fund surplus; school-aid fund finishes $98M in the black from Crain's Detroit Business

Read More (external link) »