Economist: Tennessee Budget Crunch A Long-Term Problem
Last week, Governor Bill Haslam announced a package of proposed budget cuts that would trim more than $300 million in state spending in the remainder of fiscal year 2014 and all of FY 2015. The news comes amid tax revenues falling short of projected levels, and after months of good news for Tennessee’s economy. So what explains the sudden financial scramble in Nashville?
To find out, we turned to Matt Murray, the assistant director of the Tennessee Center for Business and Economic Research. He’s the author of an annual report on Tennessee’s financial health. He spoke with WUOT All Things Considered host Brandon Hollingsworth on April 8.