LANSING, Mich. (Jan. 13, 2022) — Sen. Sarah Anthony (D-Lansing) has issued the following statement regarding the Consensus Revenue Estimating Conference (CREC) taking place today:
“CREC is a glimpse into how people are doing economically and what the future holds for our residents and revenues,” said Sen. Anthony. “While today’s presentation got very technical, one thing is abundantly clear: Today’s estimates bode well for the Majority’s policy agenda and first budget process.”
“I look forward to working with my colleagues to craft a responsible budget that reflects the priorities of hardworking Michigan families and infuses diverse voices in the process every step of the way. Now is the time to get results for the Michigan people.”
CREC is held at least twice a year, in January and May, and the January CREC starts the annual budget process for the State of Michigan. The revenue forecast adopted in the January conference is the starting point for the Governor’s executive budget, while the May conference provides an update to the forecast prior to the final budget enactment. CREC is led by the Director of the House Fiscal Agency, Director of the Senate Fiscal Agency and either the State Treasurer or State Budget Director.
###