Tennessee lawmakers pass $35B annual spending plan
Tennessee lawmakers have approved a nearly $35 billion annual spending plan for the budget year beginning July 1, sending the measure to Republican Gov. Bill Haslam’s desk.
While hot button topics like social issues and guns tend to draw much attention during the legislative session, passing a balanced budget is the chief responsibility for members of the General Assembly.
The Senate voted 32-1 in favor of the budget on Thursday, while the House approved it on an 87-7 vote.
Lawmakers spent much of this week hammering out agreements over smaller budget items, while leaving intact most of the spending plan the governor proposed at the start of the session.
One last-minute change approved by lawmakers was a 17 percent cut in the Hall tax on income from stocks and bonds.