May 9, 2006

State's Tax Surplus Surges AGAIN

NASHVILLE - Nine months into the current fiscal year, Tennessee state government already has a revenue surplus of $226.7 million - with yet three more months of revenue collections to go - according to data just released by the Tennessee Department of Finance and Administration. According to the F&A press release, year-to-date collections for the first nine months of the fiscal year were $226.7 million more than the budgeted estimate. Predictions of a $300 million surplus for the entire 2005-06 fiscal year don't seem out of touch with reality.

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