Tennessee Senate Democrats are calling for a $1 billion investment in public health clinics, school renovation, clean energy jobs and broadband internet expansion ahead of Gov. Bill Lee’s State of the State address Monday.
In a statewide address Friday aired virtually from her home in Memphis, Senate Democratic Caucus Chairwoman Raumesh Akbari proposed a plan dubbed the “Tennessee Path to Recovery” and called on Republican colleagues to work together to address issues facing Tennessee’s working-class families. Read More
The Buckeye Institute has slammed the newly released Ohio budget for excess spending, saying that while it commends the governor for balancing the budget, the state missed an opportunity for reform. Read More
Saying immediate actions are necessary to keep the state’s budget balanced, Ohio Gov. Mike DeWine ordered hundreds of millions of dollars in cuts to state agencies.
“In the springtime, the impact of the COVID-19 pandemic on the global economy, and Ohio’s revenue, was dire. With this, reductions were made to the state biennial budget,” DeWine said. “With this executive order, we are finalizing current year budget reductions at $390 million across all agencies, which is less than the cuts implemented last year.” Read More
Michigan’s General Fund and School Aid Fund tax revenues dropped $1.24 billion since January 2020, according to figures released Friday by state administrators and fiscal analysts.
The latest state consensus revenue estimating conference also projected an $84 million shortfall for 2021. Read More
House Democrats blocked a Republican attempt on Monday to require any proposed climate change legislation to also include its projected cost.
Under the Pay As You Go (PAYGO) rule, any additional government spending proposed must be accompanied by tax increases or separate cuts. After a push from several lawmakers in the Democratic Party’s progressive wing, however, the rules package for the 117th Congress states PAYGO will not apply to legislation relating to the necessary economic recovery or U.S. efforts to combat climate change. Read More
Tennessee tax revenue exceeded the state’s budget estimate by $129.5 million in November, continuing a four-month streak of positive revenue after declines in April, May and June.
The Tennessee Department of Finance and Administration said overall state revenue in November was $1.1 billion – nearly 2% more than a year ago. In the first four months of the fiscal year, tax revenue collections exceeded budgeted estimates by $576 million. Read More
Three months into the 2020-2021 fiscal year, Tennessee’s actual revenues have exceeded the budget to create a $447 million surplus.
The surplus represents revenues that are 13 percent over and above the budgeted revenues through October and the fourth month in a row of budget surpluses. Read More
Michigan leaders sealed a $62.8 billion fiscal 2021 budget agreement, increasing spending by billions from last year’s initial budget even after state revenue plummeted from COVID-19 and policies placed to curb its spread.
Experts previously estimated Michigan’s revenue would drop by $6.3 billion over the next two fiscal years. Read More
Tennessee revenues exceeded budgeted estimates for the first month of the state’s 2021-2022 fiscal year by $115.1 million, Department of Finance and Administration Commissioner Butch Eley reported Monday.
Total state revenues for August, the first month of the fiscal year on an accrual basis, were $1.16 billion, which is $22 million more than August 2019 and 11 percent more than the budgeted estimate for the month. Read More
Tennessee tax revenues for the month of July exceeded the budgeted estimate by $667.1 million, Tennessee Department of Finance and Administration Commissioner Butch Eley announced Thursday.
Overall revenues of $1.86 billion in July were $689.4 million more than state revenues in July 2019.
The higher-than-expected revenues for July has the state finishing the 2019-2020 fiscal year in a surplus position of $369.2 million against the budgeted estimate and 2.42 percent above last year, despite the impacts of the COVID-19 economic slowdown. Read More
The Comer Barn was a “gift” to Sumner County from Rogers Group Inc. by way of a deed that had no funds involved, County Executive Anthony Holt announced to Sumner County Board of Commission members at several committee meetings in April 2016.
The old and picturesque stone horse barn, considered by many as a historic structure, is located on Highway 31 between Gallatin and Hendersonville on the property of one of Rogers Group’s quarries. Rogers Group is a road paver and builder, asphalt supplier and the largest privately-owned crushed stone, sand and gravel mix company in the U.S. Read More
Ohio concluded the 2020 fiscal year with General Revenue Fund tax revenues of $1.1 billion, or 4.6 percent, below estimates, a clear indication of the impact the COVID-19 restrictions have had on the state.
Tax revenues in June were $50.5 million, or 2.2 percent, below estimate. However, state officials noted that revenues were better than a month earlier when they were 13 percent below expectations. Read More
Is America in a recession? It’s an unpopular question to ask, but it has now been over 3 months since COVID-19 restrictions were initiated and it is time for us to get realistic about where we are economically so that we can take the proper steps to minimize further damage to our economy. At this point, the unfortunate reality is that regardless of what we do, it is likely that it will take at least several years to see a partial recovery of economic loss and the time that it will take for a complete recovery remains unknown at this point. Read More
During another lengthy meeting that began Tuesday night and went into Wednesday morning, by a 32 to 8 vote the Nashville Metro Council passed a budget that includes a record 34 percent property tax increase, increased funding for police, cost-of-living raises to city employees, increases funding to the school district as well as funding for a school district minimum wage of $15 per hour.
The Council-approved property tax increase is even higher than the 32 percent increase that Mayor John Cooper called for in his budget proposal. Read More
As the second session of the 111th Tennessee General Assembly winds down, the House and Senate will need to reconcile their two different budget proposals to close out the current fiscal year and for the upcoming fiscal year 2021.
The Senate version passed with a vote of 27 Ayes, 1 No and 2 Present and Not Voting during the June 11 floor session. Read More
The Nashville grassroots group NoTax4Nash announced that it and other like-minded groups pledge to recall Mayor John Cooper and any members of the Metro Nashville Council who vote for a property tax increase without an audit to determine if there is need for one.
The NoTax4Nash pledge comes as the Metro Council is scheduled to vote on Mayor John Cooper’s proposed budget Tuesday, June 16. Read More
Democrats who control the Minnesota House announced a $300 million economic aid proposal Monday for businesses that were damaged or destroyed during the civil unrest over the death of George Floyd.
The legislation is aimed at commercial corridors in lower income neighborhoods that were hardest hit as protests over Floyd’s May 25 death while in Minneapolis police custody turned violent. Many of the affected small businesses along Lake Street and Broadway Avenue in Minneapolis, and University Avenue in St. Paul, are owned by people of color and immigrants. Read More
The May revenues announced by Tennessee Department of Finance and Administration Commissioner Butch Eley Monday showed a negative growth rate of 15.83 percent compared to a year ago.
The state’s revenues of $981.9 million were $197.3 million less than budgeted and $184.7 million less than May 2019, according to the department’s news release. Read More
Metro Councilman-at-Large Steve Glover and owner of Peg Leg Porker, Carey Bringle, called for at least another week to review the city’s budget for the upcoming 2021 fiscal year.
Glover has been outspoken about Mayor Cooper’s 32 percent proposed property tax increase, and native Nashvillian Pringle made news when he shared his scathing letter to Mayor Cooper and the Metro Council about the proposed property tax increase. Read More
There have been a number and variety of both high-profile and lesser-publicized events in Nashville that at first glance are seemingly unrelated – but are actually connected by way of the groups that have been involved with them.
The first and most notable event took place on Saturday, May 30, when the Music City’s protests over the death of George Floyd on May 25 turned into a violent riot. Read More
Lt. Governor Randy McNally (R-Oak Ridge) suggested that the annual sales tax holiday is one of the things that would not be done this summer to help compensate for the state’s revenue shortfalls.
The revelation by the lieutenant governor was included in a WBIR 10News report in conjunction with adjustments the Tennessee General Assembly expects to make to the fiscal year 2021 budget. Read More
At least two citizen-led efforts are underway to fight back against Nashville Mayor John Cooper’s proposed 32 percent property tax increase.
Cooper unveiled his $2.447 billion budget for the fiscal year 2021 – an increase of $332 million over the current year late last month, The Tennessee Star reported. Read More
A volunteer effort is seeking to protect taxpayers from reckless government spending by putting a Nashville Taxpayer Protection Act on the ballot in December.
The goal of this act is to force the government to be fiscally responsible through a series of amendments to the charter of the Metropolitan Government of Nashville and Davidson County. Read More
Nashville has suffered the steepest drop in consumer spending of any major metropolitan area in the U.S due to COVID-19, according to a report Wednesday in the Nashville Business Journal.
The Journal used information obtained from Harvard’s new Opportunity Insights Economic Tracker, working with Brown University and the Bill & Melinda Gates foundation to pull data from a variety of sources. Read More
Mayor John Cooper’s budget for the 2021 Fiscal Year (FY) includes a five percent increase in spending, which will come at the expense of Nashville property owners by way of a 32 percent property tax increase.
The record-high budget of $2.45 billion is Cooper’s first, and comes on the heels of a devastating tornado on March 3 and during a worldwide coronavirus pandemic which resulted in major losses of personal property and income for Nashvillians. Read More
The economic shutdown has turned Minnesota’s projected $1.5 billion budget surplus into a $2.4 billion deficit, state officials announced Tuesday. Read More
The University of Akron President Gary Miller said in a video message to campus Monday that the school is set to lose between $65 million to $70 million as a result of the coronavirus outbreak. Read More
Commissioner of Finance and Administration Butch Eley announced Monday that the Tennessee’s tax revenues exceeded budgeted estimates for the month of March by $62.1 million, despite the anticipated impact of the coronavirus.
Eley was named to the new post by Governor Bill Lee on April 15, while also serving as the Chief Operating Officer for the state. Prior to joining Governor Lee’s administration, he was a founder and CEO of Infrastructure Corporation of America, an infrastructure asset maintenance management company and a partner at the Ingram Group. Read More
Metro Nashville departments have submitted requests for the upcoming fiscal year 2021 budget totaling 861 new full-time equivalent (FTE) positions and increases funding by staggering $144 million. Read More
A bill passed by the Tennessee General Assembly last week reveals that in fiscal year 2019-2020 the Copeland Cap, at $629 million or 3.6 percent, hit its highest level in more than a decade.
The legislation, which passed as HB2819 in both chambers on March 19 with only one “no” vote by Democrat Representative G. A. Hardaway (D-Memphis), was one of the four bills addressed in an expedited fashion to enact a bare bones budget before lawmakers recessed until June 1 amid the COVID-19 health crisis, The Tennessee Star reported. Read More
Tennessee’s lawmakers worked all day and well into the evening Thursday to approve a budget for fiscal year 2021 before adjourning for a recess that will go until June 1, 2020. Read More
On Thursday’s Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 a.m. to 8:00 a.m. – host Michael Patrick Leahy welcomed Roy Matlock, Jr. to the newsmakers line. Read More
In the wake of the COVID-19 pandemic, the Tennessee General Assembly continued its push Wednesday to wrap-up bills deemed necessary and a bare-bones budget by the end of the week, and possibly as early as end of day Thursday.
In keeping with that, a total of 20 subcommittee and committee meetings were scheduled for Wednesday, 15 for the House and five for the Senate, in addition to a floor session for each chamber. Read More
The Tennessee General Assembly adjusted schedules at the start of the week for Tuesday to address only those procedures and bills deemed necessary to fulfill the constitutional requirement of passing a balanced budget for fiscal year 2021, which runs July 1, 2020, to June 30, 2021. Read More
A House bill package seeks to put about $800 million annually into local roads without a 45-cent gas tax hike or increasing future debt.
The six-bill package, if enacted, would eliminate the six percent sales tax on fuel over three years and replace it with another excise tax that would fund the 92 percent of local roads that aren’t touched by Gov. Gretchen Whitmer’s $3.5 billion bonding plan.
Much of that bonding money would go to repair roads in Metro Detroit. Read More
Live from music row Monday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – host Leahy and all-star panelist Crom Carmichael welcomed in-studio guest Metro Councilman Steve Glover to the show. At the top… Read More
State Superintendent Michael Rice (pictured above) praised the school funding increases included in the budget proposed by Gov. Gretchen Whitmer, saying it set the path for a growth within the Michigan school system. Read More
The state’s revenue collections for the month of January remained strong, resulting in a $129.4 surplus over the budgeted estimate of $1.55 billion, Tennessee Department of Finance and Administration Commissioner Stuart McWhorter reported Friday. Read More
President Trump’s budget proposal includes nearly an eight percent cut to the Department of Education, a choice that has received backlash from Democrats. Read More
One initiative in President Donald Trump’s fiscal 2021 budget, to be presented to Congress Monday, targets waste, fraud and abuse of taxpayer money. Read More
Despite deep budget cuts for the Environmental Protection Agency at large, the budget plan for 2021 proposed by President Trump grants full funding to protection programs for the Great Lakes. Read More
State lawmakers nationwide are spending more money, but they are also replenishing rainy day funds in preparation for the next economic downturn, a new report determined. Read More
Live from Music Row Monday morning on the Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – Leahy was joined in studio by all-star panelists, Ben Cunningham and Nashville Metro Councilman at-large Steve Glover. During the third hour,… Read More
Live from Music Row Monday morning on the Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – Leahy was joined in studio by the all-star panelist, Crom Carmichael, and Nashville Metro Councilman Steve Glover. Read More
In a news release Friday, the Commissioner of Finance and Administration Stuart McWhorter announced that the state’s revenues for October exceeded budgeted estimates, resulting in a $49.8 million surplus for the month. Read More
The report of Tennessee state revenues for September at $1.6 billion resulted in a budget surplus of $138.8 million. Revenue for the month of September 2019, as indicated in the report, is $138.7 million more than September 2018, reflecting a 9.75 percent year-over-year growth rate. On an accrual basis,… Read More
Live from music row Monday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – Leahy and in-studio guest Metro Councilman Steve Glover discussed the Nashville city budget and how Mayor Cooper’s taken a good first step to get $12 million back from the Music City Convention Center. Read More
Commissioner of the Department of Finance Administration, Stuart McWhorter, reported last week that Tennessee revenues for August were $28.8 million more than the budgeted estimates. Read More
In a discussion Thursday morning on The Tennessee Star Report with Michael Patrick Leahy – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – Leahy spoke to in-studio guest and Metro Council at-large candidate, Steve Glover about the need for a more conservative fiscal budget in Nashville. He also noted that it is crucial that Nashville maintain a conservative voice at the table. Read More
On Monday’s Tennessee Star Report – broadcast on Nashville’s Talk Radio 98.3 and 1510 WLAC weekdays from 5:00 am to 8:00 am – Michael Patrick Leahy talked to Nashville Metro Council member Steve Glover about Nashville’s fiscal irresponsibility and how Glover is the ‘last man standing’ to help save the… Read More