Tennessee Gov. Bill Haslam delivered his 2012 State of the State address before a joint session of the General Assembly in which he shared his vision for the state and called upon those watching and listening to “believe in better.”
During his speech, the governor emphasized the importance of Tennessee job growth, a continued focus on improving education, public safety, a more customer-focused, efficient and effective state government and keeping taxes low. Haslam also outlined his Fiscal Year 2012-2013 budget proposal, which reflects his priorities and includes strategic investments, necessary reductions and savings for the future. Nearly $264 million to fund long-deferred capital outlay projects in higher education was outlined, including $126.7 million for a new science building at MTSU.
The budget also includes funding for the governor’s legislative proposals announced earlier in the month that include:
*Raising the exemption level on the estate tax in Tennessee from $1 million to $1.25 million to lower the tax burden on family farmers and family business owners;
*And lowering the state portion of the sales tax on food from 5.5 percent to 5.3 percent with the goal of lowering it to 5 percent during the next three years.
Click here to view the governor's State of the State speech.