Businesses in Crossville often find few options when looking for buildings. That’s a problem when trying to recruit new businesses, said Crossville-Cumberland County Chamber of Commerce President Ethan Hadley.
(The Center Square) – The Tennessee Department of Economic and Community Development (TNECD) asked for $156.5 million in additional funding in its budget hearing with Gov. Bill Lee and advisers.
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Governor Introduces Fiscal Year 2021-2022 Budget Amendment
April 15, 2021
Governor Bill Lee announced his amendment to the proposed Fiscal Year 2021-2022 budget.
The amendment includes $580 million in available funds as a result of fiscal prudence. These funds will be invested in strategic long-term projects that focus on a return to pre-pandemic priorities and deliver critical services while not growing government. The budget amendment also includes nearly $100 million for a two-week sales tax holiday on all grocery sales, purchases at restaurants, and all prepared food.
“This proposal supports Tennesseans by strategically investing in long-term initiatives that will move our state forward,” said Gov. Lee. “I’m especially proud to provide tax cuts to get money back to Tennesseans to encourage them to frequent industries that have been disproportionately and negatively impacted this year.”
Credit sycamoreinstitutetn.org
NASHVILLE, Tenn. (AP/WMOT) Gov. Bill Lee has added well over half-a-billion dollars in new spending to his state budget plan for the coming fiscal year.
In a press statement released Tuesday, Lee says $580 million in additional spending has been made possible by higher than expected tax collections.
Among the items included in the revised proposal is a $100 million, two-week sales tax holiday on restaurants, bars and groceries. No word yet on when the tax holiday might begin.
The state’s largest teacher’s union panned the proposal. The Tennessee Education Association suggests the governor spend the additional revenue instead on schools they say are underfunded.