Tennessee’s budget increased cumulatively more than pop+inf in state funds and all funds from 2014-23, meaning taxes are higher than the average taxpayer can afford.

  • The 2023 state funds budget is $8.7 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the state funds budget grew faster than population growth plus inflation for the last ten years, the state spent and taxed $15.2 billion too much.
  • The 2023 all funds budget is $15.3 billion higher than it would have been had spending grown at the rate of population growth plus inflation over the past decade.
  • Because the all funds budget grew faster than population growth plus inflation over the past decade, the state spent and taxed $28.9 billion too much.

State Funds Budget Data

  • Estimated FY 2024 Only State Funds Budget ($ Billions): $30.70
  • FY 2025 Only State Funds Budget Limit ($ Billions): $32.64
  • FY 2025 Only State Funds Budget Limit Growth ($ Billions): 6.31%
  • Cost per person of state funds budgeting more than pop+inf over the last decade in 2023 budget: $1,217
  • Cost per family of 4 of budgeting more than pop+inf over the last decade in 2023 budget: $4,868
  • Cumulative cost per person of state funds budgeting more than pop+inf over the last decade from 2014-23: $2,135
  • Cumulative cost per family of 4 of state funds budgeting more than pop+inf over the last decade from 2014-23: $8,538

State All Funds Budget Data

  • Estimated FY 2024 All Funds Budget ($ Billions): $46.50
  • FY 2025 All Funds Budget Limit ($ Billions): $49.44
  • FY 2025 All Funds Budget Limit Growth ($ Billions): 6.31%
  • Cost per person of all funds budgeting more than pop+inf over the last decade in 2023 budget: $2,150
  • Cost per family of 4 of all funds budgeting more than pop+inf over the last decade in 2023 budget: $8,598
  • Cumulative cost per person of all funds budgeting more than pop+inf over the last decade from 2014-23: $4,059
  • Cumulative cost per family of 4 of all funds budgeting more than pop+inf over the last decade from 2014-23: $16,236

Other Considerations