TENNESSEE’S $37 BILLION BUDGET EXPECTED TO PASS THIS WEEK
Tennessee is expected to have a new budget this week. Legislators are expected to pass the $37 billion plan before adjourning for the year. The required passing of an annual state budget usually precedes the closing of the group’s yearly session. If both chambers pass the budget this week they can finalize their business by the early part of next week. The budget process was put on hold until after Gov. Bill Haslam’s plan to raise funding for road and bridge work was approved. Haslam’s IMPROVE Act, which includes a boost of the gasoline tax while cutting other taxes, such as trimming the tax on groceries, was signed into law last week.