Saturday, May 26, 2007

House Repub Plan with NO Tax Increase or Pork

This is the Tennessee House Republican Budget Plan 2.0 compared to previous budget proposals. It has NO Tax Increase and a Grocery Tax Reduction in the form of a permanent 1/2% reduction or a one time, one month tax holiday. There is NO pork and it doesn't bust the TN Constitutional Copeland Cap on spending. I applaud the House Republicans for this proposal.

EXPENDITURE

Governor’s Budget

Democrat Plan

Republican Plan 2.0

K-12 improvements

$284.5 million

$384.5 million

$335.5 million

Higher Ed

$75.7 million

$75.7 million

$75.7 million

Employee raise

1% + 2% bonus

3% raise

3% raise

Compression

$0

$26.8 million

$24 million

Rainy Day

$36.6 million

$216 million

$136.6 million

Pork

$0

$20 million

$0

Sales Tax Cut on Food

$0

$40.7 million

$114.8 million

Recurring Highway $

$0

$32.8 million

$32.8 million

Higher Ed Capitol Outlay

$0

$125.9 million

$125.9 million

K-12 Capitol GRANTS

$0

$0

$100 million

Debt for trees

$82 million

$82 million

$0 ($82 million cash)

Farm program

$6 million

$21 million

$21 million

TAX INCREASE

$219.6 million

$219.6 million

$0