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Thu February 11, 2010
TN Revenues $152M Below Projections in 1st Half
Nashville, TN – Tennessee's general fund tax collections are $152 million short of projections through the first half of the budget year. The state collected $5.2 million less than expected in December and Finance Commissioner Dave Goetz says Wednesday he's disappointed that holiday sales didn't boost revenues more. While the state continues to grapple with worse-than-expected tax returns, the six-month total is far less dire than at the same time last year, when the general fund was nearly $500 million short. Goetz also says one positive indicator is that the rate of car sales has grown for three straight months in Tennessee.