02 Apr Legislative Session Nears the Beginning of the End
The last remaining weeks of session for the 108th General Assembly near as April says hello. Last year the legislature recessed on April 18th and many observers believe adjournment will come sooner. This week the Governor is expected to present his budget document to both chambers with additional cuts believed to be the top point. Over the last few months, franchise and excise taxes have lagged from projections forcing the administration and the legislature to prepare for additional cuts to the budget proposed by Governor Haslam. It is thought revenue is below projections leaving a budget gap reaching $340 million. The result could force state leaders to eliminate the proposed pay raises to state employees as well create additional pressure for higher education institutions. Many fear that could lead to additional tuition hikes.Passing a budget for the state is the only constitutional legislative action the General Assembly must make and it’ consideration marks the beginning of the final phase of the year’s legislative session. The administration will make their presentation to both Finance committees on Tuesday.