Balanced Budget passes Tennessee General Assembly

Conservative balanced budget cuts taxes, reduces spending, and moves an additional $50 Million to Rainy Day Fund

Nashville, TN – On Monday night, the House of Representatives passed the Conference Committee majority report for the Fiscal Year 2012-13 budget by a vote of 64-28-1.

Speaker of the House Beth Harwell (R—Nashville) stated, “Tennesseans can be very proud of the fiscally responsible budget crafted this year. Unlike Washington, D.C. we balance our budget every year—a feat that does not come easily. In addition to these cuts, we were still able to provide more tax relief for Tennesseans than any year of my tenure, reduce the budget by two percent, and put $50 million away for a rainy day. Republicans understand that when a surplus of money comes in, we should return it to its rightful owners: the taxpayers.”

Majority Leader Gerald McCormick (R—Chattanooga) added, “Tennesseans elected us with the understanding that we would budget responsibly and limit the size of government. We trimmed the fat from the budget and made government more efficient while still funding priorities like education and health, keeping our promise to the voters.”

Republican Caucus Chairwoman Debra Maggart (R—Hendersonville) concluded, “Two years ago, this leadership was selected to downsize government, eliminate taxes, and pave the way for private sector job creation in Tennessee. With the passage of two balanced budgets, elimination of several taxes, and with our unemployment numbers lower than the national average, we have ushered in two years of unprecedented success.”