Detroit ― Detroit Mayor Mike Duggan and Chief Financial Officer Tanya Stoudemire touted a projected $60.2 million surplus at the end of the city's 2024-2025 fiscal year, proposing some of that money go into a new reserve fund amid worries about corporate income tax revenues.

Detroit city leaders are concerned about potential impacts of President Donald Trump's One Big Beautiful Bill Act and about a recent reduction in income tax revenue from Detroit manufacturers.

Stoudemire announced at a press conference Monday that the city is projecting a $60 million surplus for the 2024-2025 fiscal year, which ended June 30. She said this is a conservative estimate that will likely increase once the city completes its audit of the year's budget.

Duggan said he is sending to Detroit City Council a

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