Gov. Bill Lee started budget hearings for 2021. First data point for discussion: the state has lost 158,000 jobs since March, according to economist Bill Fox. Every sector has fewer jobs today than in February — except finance (very small percentage of jobs). #TNBudget #tnpol
—Leisure and hospitality down 53,900 jobs
—Manufacturing down 29,600 jobs
—Professional and business service down 22,300 jobs
Bill Fox says the recovery gets harder from here as many of these jobs just won't be coming back. #tnbudget #tnpol
—Manufacturing down 29,600 jobs
—Professional and business service down 22,300 jobs
Bill Fox says the recovery gets harder from here as many of these jobs just won't be coming back. #tnbudget #tnpol
Still, both Gov. Lee's admin and Dr. Fox noted state tax collections are up and growing likely because of the federal payroll protection program and the massive influx of federal unemployment insurance. That money is gone now—and the pandemic is still spreading. #tnbudget #tnpol
Gov. Bill Lee's admin says its new laws increasing sales tax collections on online shoppers have resulted in big tax revenue increases as consumers bought more online. The Bill Lee-backed laws increased sales taxes on Tennesseans after the #SCOTUS' Wayfair decision. #tnbudget
Gov. Bill Lee's finance chief and the economist Dr. Bill Fox urge caution on budgeting sales and business tax revenues — as if to tell the governor "don't go spending any money yet." #tnbudget #tnpol
No mention of the $4.5 billion stockpiled in state savings accounts and no talk of containing the pandemic. The economic outlook only remains uncertain because political response to the pandemic has been so poor. The health of the economy and our people are connected. #tnbudget
Gov. Lee's health chief proposed a $1.2M cut to a program that provides medication to about 2,000 hemophilia and renal patients. The program was on the chopping block last year too and the health commissioner says this cut would reduce services. #tnbudget tennessean.com/story/news/201…
Tennessee's health dept is also seeking a $2M increase in healthcare safety net funding, which provides primary care health services to Tennesseans who are uninsured or underinsured. If approved, the healthcare safety net program budget would be $21M annually.
#tnbudget
#tnbudget
Not mentioned in the healthcare safety net discussion? Medicaid expansion.
The Affordable Care Act would provide Tennessee $1.4 billion of our own tax dollars a year to create health coverage for Tennesseans who don't get health insurance coverage through their job. #tnbudget
The Affordable Care Act would provide Tennessee $1.4 billion of our own tax dollars a year to create health coverage for Tennesseans who don't get health insurance coverage through their job. #tnbudget
In afternoon budget hearings, Gov. Bill Lee's ECD chief asked for a $70M increase for taxpayer-funded corporate incentives. In September, an audit showed that millions were given to companies that never produced the jobs they promised. #tnbudget #tnpol tennesseelookout.com/2020/09/29/tax…
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