Haslam Confident In TN Economy

Dec 10, 2013

Credit wikimedia.org

The Tennessee State Funding Board will meet on Tuesday to hear economists' revenue estimates for the upcoming budget year.

Following their predictions, the governor selects a number within the range in constructing the budget. Last month, finance officials reported that the state's general fund revenues fell $97 million short of projections in the first quarter of the state's budget year.

Corporate franchise and excise tax collections came in at $352 million, or $87 million below the budgeted estimate, and a 14% drop from the same year-ago period.

Gov. Bill Haslam says that preliminary numbers for Thanksgiving sales were "mediocre."

However, despite the numbers, he says he still has confidence in the state's economy.