Experts predict modest revenue growth for Tennessee
NASHVILLE, Tenn. (AP) — State officials are being warned Tennessee will see modest revenue growth for both this current fiscal year and in the next after seeing a boom in economic activity.
In presentations made to the State Funding Board on Tuesday, budget experts projected the state’s revenue could range from 2.7 percent to 3.7 percent in the upcoming year.
Analysts say that while the growth will slow, an economic recession is unlikely in the next year.
The funding board is made up of the secretary of state, comptroller, treasurer and the state finance commissioner. The panel will reconvene on Nov. 26 to issue its consensus on how much money the state is expected to collect through the budget year that ends on June 30 and the one that begins after that.