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Michigan's Rainy Day Fund Balance

UNDATED (WHTC) -- Information released by The Tax Foundation this week gives a new analysis of state rainy day fund balances across the U.S.  Michigan is specifically mentioned in the article as a state that outranks most of its peers and still moving in the right direction.  House Appropriations Chair Joe Haveman says, “I’m proud of the work we’ve done to turn Michigan’s economy around,” and “Our strong budget stabilization fund has led to increased credit ratings from all of the nation’s major credit agencies.”  Michigan went from having a rate of point-o-two in 2007 to a rate of 5.63 percent to be ranked 11th in the country in 2013.

Stroy by:  Diane E Coston