April 29, 2021
April 29, 2021
Governor Bill Lee has announced the Fiscal Year 2021-2022 budget has passed through the General Assembly. The budget totals $42.6 billion and includes investments in literacy, mental health, broadband, and safety.
“I’m proud that this budget delivers on some of our top promises to Tennesseans and invests in external organizations meeting the needs of our local communities,” said Gov. Lee. “Thank you to the General Assembly for their steadfast commitment to our shared goals and establishing Tennessee as a fiscal leader across the nation.”
As a result of fiscal prudence and over $180 million in spending reductions from the state agencies, Tennessee is able to return to pre-pandemic priorities and invest in public-private partnerships.
Governor Lee Touts Passage Of $42.6 Billion State Budget Thursday, April 29, 2021
The Fiscal Year 2021-2022 budget has passed through the General Assembly. The budget totals $42.6 billion and, according to Governor Bill Lee, includes historic investments in literacy, mental health, broadband, and safety.
“I’m proud that this budget delivers on some of our top promises to Tennesseans and invests in external organizations meeting the needs of our local communities,” said Governor Lee. “Thank you to the General Assembly for their steadfast commitment to our shared goals and establishing Tennessee as a fiscal leader across the nation.”
He said, As a result of fiscal prudence and over $180 million in spending reductions from the state agencies, Tennessee is able to return to pre-pandemic priorities and invest in public-private partnerships.
Legislative Update: State of the State highlights - education, no new taxes
Sen. Joey Hensley, R-Hohenwald
The budget moved front and center on Capitol Hill during the week of Feb. 8 as Gov. Bill Lee presented his proposal to fund state government with improvements, prioritizing education, health care, and job development, particularly Tennessee’s rural communities.
Lee’s State of the State and budget address was also highlighted by an accounting of Tennessee’s COVID-19 response and plans for a full economic recovery.
Consistent with conservative principles, the budget does not propose new taxes.
Tennessee is recognized as the third least taxed state in the nation. Since 2011, the General Assembly has reduced sales tax on food by nearly 30%, phased out the Hall income tax, eliminated the gift and inheritance taxes, reduced the professional privilege tax for 15 professions, and cut taxes on manufacturing to enhance job creation.