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Michigan budget surplus projected at 971-million dollars

LANSING (WKZO) -- State economists and budget officials say the state of Michigan will have an additional 971-million dollars for the next budget.  However, officials warn that the majority of the surplus is one-time money.

The news came during the biannual revenue-estimating conference at the state Capitol in Lansing Friday.  The figure was reached by combining a 429-million dollar surplus from 2013 with projected revenue increases in 2014 and 2015.

Republicans in the legislature have talked about an income tax reduction with the additional money while Democrats favor increasing the amount spent in Kindergarten through twelfth grade education in Michigan.