Bigger Pockets and Balanced Budgets: Passing A Conservative Budget for Tennessee in 2024
BY RON SHULTIS
For at least a decade before the pandemic, Tennessee leaders have practiced conservative budgeting, keeping increases in state spending below population growth plus inflation. This saved Tennessee taxpayers billions of dollars, allowing for further pro-growth tax cuts. As the state is finally spending the last of its federal relief funds, it is more important than ever that Tennessee leaders practice conservative budgeting and fiscal restraint, correct for those excesses, and return to pre-pandemic spending trends.
The Conservative Tennessee Budget ensures that the burden on Tennessee families to fund the state government will not increase beyond their ability to pay for it. For the upcoming FY 2025 budget, that maximum threshold would be $59.45 billion. By appropriating below that amount, Tennessee policymakers will continue to give taxpayers the best opportunity to prosper and live their version of the American dream. Finally, Tennessee should make this CTB approach the law of the land by improving the state’s current spending limit with this stronger limit to best let people prosper.