Jeff Keeling | WJHL | May 28, 2020
When legislators return to Nashville Monday, they’ll be facing an even grimmer budget scenario than the one they left behind March 19, House finance subcommittee member David Hawk said.
“In the interim we have actually seen larger negative budget revenues than we expected, so what we had planned on being a zero growth budget actually appears now to be a negative growth budget,” Hawk said.
Rather than end fiscal 2020 with revenues matching budgeted expenses, the General Assembly is now looking at a projected $500 million hole for the year that ends June 30. And instead of a fiscal 2021 flat budget like the temporary one passed in March, legislators will reduce projected revenues by about $1 billion.
“I think it’s important that folks know that we are handling this … budget in a responsible way,” Hawk said Wednesday. “I’m all about transparency and I think folks need to know that there is a potential for a substantial alteration to the budget document.”
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