Michigan’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.
- The 2023 state funds budget is $11.6 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
- Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $32.1 billion too much.
- The 2023 all funds budget is $27.4 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
- Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $89.0 billion too much.
State Funds Budget Data
- Estimated FY 2024 Only State Funds Budget ($ Billions): $50.33
- FY 2025 Only State Funds Budget Limit ($ Billions): $52.97
- FY 2025 Only State Funds Budget Limit Growth ($ Billions): 5.25%
- Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $1,153
- Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $4,613
- Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $3,197
- Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $12,788
State All Funds Budget Data
- Estimated FY 2024 All Funds Budget ($ Billions): $88.76
- FY 2025 All Funds Budget Limit ($ Billions): $93.42
- FY 2025 All Funds Budget Limit Growth ($ Billions): 5.25%
- Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $2,730
- Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $10,919
- Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $8,871
- Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $35,485
Other Considerations
- Economic Freedom of North America (2021) (Rank): 31 [Fraser Institute]
- Economic Freedom (2022) (Rank): 10 [Cato Institute]
- Fiscal Policy (2022) (Rank): 11 [Cato Institute]
- Regulatory Policy (2022) (Rank): 12 [Cato Institute]
- State Tax Collections Per Capita (FY2021) ($): $3,426 [Tax Foundation]
- State Tax Collections Per Capita (FY2021) (Rank): 28 [Tax Foundation]
- State-Local Total Tax Burden per Capita (2022) ($): $4,720 [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (%): 8.60% [Tax Foundation]
- State-Local Tax Burden per Capita (2022) (Rank): 5 [Tax Foundation]
- Top Income Tax Rate (2024) (%): 4.25% [Tax Foundation]
- Top Income Tax Rate (2024) (Rank): 16 [Tax Foundation]
- Flat/Progressive/Zero Income Tax (2024): F [Tax Foundation]
- Overall State Business Tax Climate Index (2024)(Rank): 11 [Tax Foundation]
- Top Corporate Income Tax Rate (2024) (%): 6.00% [Tax Foundation]
- Top Corporate Income Tax Rate (2024) (Rank): 24 [Tax Foundation]
- State-Local Sales Tax Rate (2024) (%): 6.00% [Tax Foundation]
- State-Local Sales Tax Rate (2024) (Rank): 11 [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (%): 1.38% [Tax Foundation]
- Property Taxes Paid as a Percentage of Owner-Occupied Housing Value (2021) (Rank): 14 [Tax Foundation]
- Economic Outlook (2024) (Rank): 16 [American Legislative Exchange Council]
- Economic Performance Rankings, 2012-2022 (2024) (Rank): 31 [American Legislative Exchange Council]
- Tax and Expenditure Limit (Rank): 3 [American Legislative Exchange Council]
- Right-to-Work Law (2022) (Y/N): Y [American Legislative Exchange Council]
- State-Local Spending per Capita (2022) ($): $12,244 [US Government Spending]
- State-Local Spending per Capita (2022) (Rank): 23 [US Government Spending]
- Official Poverty Rate (2021-23) (%): 11.9 [Census Bureau]
- Official Poverty Rate (2021-23) (Rank): 34 [Census Bureau]
- Supplemental Poverty Rate (2021-23) (%): 9.2 [Census Bureau]
- Labor Force Participation Rate (Dec 2023) (%): 62.20% [Bureau of Labor Statistics]
- Labor Force Participation Rate (Dec 2023) (Rank): 30 [Bureau of Labor Statistics]