Legislative Update: Governor emphasizes fiscal responsibility, education in State address
On Feb. 5, Gov. Bill Lee delivered his sixth State of the State address on Monday evening in a joint session of the General Assembly, where he laid out his 2024 budget priorities. Lee’s proposals include strategically investing in economic and educational opportunities, strengthening families and preserving Tennessee’s natural resources.
Legacy of fiscal responsibility
In his speech, Gov. Lee credited the General Assembly’s unwavering commitment to fiscal responsibility as the reason for the state’s firm financial foundation. After years of extraordinary revenue growth, revenues are slowing. However, because of consistent conservative budgeting, Tennessee is well-positioned to continue its record of fiscal responsibility with a balanced budget, healthy savings and tax cuts.
Lee’s proposal includes a $20 million investment in Tennessee’s Rainy Day Fund, bringing Tennessee reserves to more than $2 billion – the largest in state history. It also includes significant tax relief in the form of simplifying the state’s franchise tax.
“Over the past five years, Tennessee has been ranked as the fastest-growing economy of all 50 states, the number one state for fiscal stability, a top state for business, the second lowest-taxed state per capita, and the lowest debt state in America,” said Lee. “Any state would envy the position that we’ve been in.”
Investing in Education
Once again, Education is a top priority for Gov. Lee this year. In the speech, Lee underscored his focus on improving the state’s public schools, while also ensuring parents have the freedom to make education decisions specific to their child’s needs. Lee expressed his intentions to provide school choice for every Tennessee family through his Education Freedom Scholarship Act proposal.
“We’ve done a lot of work in Tennessee, but we still have a ways to go in providing the best possible education for every student in our state,” he said. “2024 is the year to make school choice a reality for every Tennessee family.”
Lee also emphasized his commitment to investing in and improving Tennessee public schools.
“We have placed an unprecedented focus on public education, and I intend to continue that every year,” Lee said. “We can give parents choice and support public schools at the same time. You’ll hear me say that over and over again – these two ideas are not in conflict.”
Notable education highlights in Lee’s 2024 proposed budget include:
Public Education Investments
More than $261 million to strengthen education through the Tennessee Investment in Student Achievement (TISA) formula growth, including teacher pay raises
$30 million for summer learning programs to support students between school years
$3.2 million dedicated to AP Access for All, which provides AP courses to students across rural and urban Tennessee
$2.5 million to strengthen students’ reading and phonics skills
$577,000 to ensure we train Tennessee teachers to be the best and brightest educators of Tennessee children
$15 million to fund charter school facility improvements
Expanding Choices for Tennessee Parents
$141.5 million to establish Education Freedom Scholarships to empower parents with the freedom to pick the right school for their child
Preserving Outdoor Heritage
Lee proposed big plans to continue efforts to preserve Tennessee’s natural beauty and outdoor heritage for generations to come. These proposed investments include:
$63 million to create four new Tennessee State Parks
$20 million to expand blueway trail access, which will drive tourism and economic activity across our rural communities
$20 million to improve water quality at rivers, lakes and streams across the state, making them safe for future generations to enjoy and the Bill Dance Signature Lakes Fishing Trail
$25 million to establish the Farmland Conservation Fund, partnering with farmers to place a conservation easement on their land to preserve and protect Tennessee for future generations
$5 million to protect and enhance scenic beauty along our major highways
$3 million for Access 2030 to make Tennessee State Parks accessible to Tennesseans with disabilities
Sen. Joey Hensley, R-Hohenwald, 28th District, gives a weekly update of Senate business in the 113th General Assembly.
This article originally appeared on The Daily Herald: Legislative Update: Lee emphasizes fiscal responsibility, education
