Legislature Passes $56.2 Billion Budget
House and Senate Finance Chairs State Rep. Patsy Hazlewood, R-Signal Mountain, and State Sen. Bo Watson, R-Hixson, on Thursday marked the fulfillment of the General Assembly’s constitutional duty with the passage of a $56.2 billion budget for 2023-24 fiscal year.
“This budget reaffirms Tennessee’s commitment to strong conservative fiscal management and low taxes,” Rep. Watson said. “It makes one of the largest tax cuts in Tennessee history for businesses and families, while setting aside $250 million for our rainy-day fund. We are providing grants to rural and distressed hospitals taking care of vulnerable populations throughout the state. I’m glad we are reinforcing out commitment to school safety by including additional funds for public and private schools to strengthen security measures. This forward-looking budget makes responsible investments with Tennessee taxpayer dollars that will boost economic growth, advance job opportunities, and improve public safety.”