Tennessee’s Budget Sees Impact Of Tax Cuts And No New Untapped Revenue Sources

Two Things Have Driven Tennessee’s Massive Rise In State Revenues Over The Past Five Years: The Ability To Collect Taxes On Internet Sales And An Enormous Growth In Franchise And Excise Tax Collections. But As The Online Sales Tax Money Becomes A Normal Part Of The State Budget And Lawmakers’ 2023 Franchise And Excise Tax Cuts Go Into Effect, The Days Of Significant Revenue Growth Are Likely In The Rearview Mirror.

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Tax Breaks Abound & Revenue Decreases Causing Questions Over Whether Federal Education Funding Can Be Dropped

While Conservatives Have Spent Years Considering The Idea Of Removing The U.S Department Of Education’s Regulations On Tennessee Schools, Now That Those Considerations Are Being Backed With Research And Action, Tax Revenue Is Suddenly Down. 

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