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« Do the Wright Thing | Main | Want Higher Gas Prices? Then Vote for Bredesen. » June 7, 2006State's Surplus On Pace To Hit $300 Million
A revenue source growing at 7 percent annually will almost double in a decade. Posted in Tennessee Government News
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Keep in mind also that the inflation rate for 2005 was 3.4% and 2.2% the first half of 2006. TN state revenue has been increasing at double the rate of inflation for years. In other words the state is spending at twice the rate of resident's personal income growth. This is why we needed SR629 this past session and proof once again the Tennessee legislature and the governor have absolutely no morals or ethics regarding fiscal responsibility or accountability to Tennesseans. Posted by: Rick Forman at June 7, 2006 11:46 PMPost a comment
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With ten months of tax revenue in the bank, Tennessee's revenue surplus has surged again, and is on pace to break the $300 million mark. Year-to-date collections through ten months are $249.8 million more than the budgeted estimate, powered by a $103 million surplus in sales tax revenue, according to the latest monthly revenue report from the Tennessee Department of Finance & Administration. Here's the 