May 11, 2004

Tennessee Legislature Prepares to Exceed Spending Cap

NASHVILLE - Legislation that would enable the state of Tennessee to exceed its constitutional cap on the growth of state spending by $105.1 million this fiscal year was on the agenda today in the state legislature's House and Senate finance committees. You can track the progress of Senate Bill 3456 and House Bill 3549 here. Meanwhile, a placeholder bill that allows the state to exceed the constitutional cap next fiscal year also was on the agenda today of both committees. You can track SB 3433 and HB 3548 here

You can read all about the legislation, and why it makes a tax increase more likely in the future for Tennessee residents - and makes passing the proposed Taxpayers Bill of Rights more necessary than ever - by visiting my Tennessee Budget & Tax Policy archives and Taxpayers Bill of Rights archives.