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Fri January 3, 2014
Haslam Warns Of 2014 Spending Cuts
Another state spending plan, another set of dire predictions of budget cuts. In each year of Governor Bill Haslam's term in office, the Republican has warned that budget cuts are necessary to cope with projected shortfalls.
And yet, each year the state's spending has increased. The low-end projection for the state's share of the upcoming spending plan is $12.22 billion.
That's $1.65 billion, or about 16%, more than the state collected under the last spending plan of Haslam's predecessor, Phil Bredesen, in 2011.
But a sluggish state economy has caused revenue projections to be adjusted downward, and Haslam has once again asked each of his departments to prepare for spending cuts in the upcoming budget year.