Despite No Income Tax, Tennessee Is Drowning In A Growing Budget Surplus

(From Ace of Spades blog today. Can't link because their URL looks like a shortener in action, and that implies spam. )

Tennessee has a budget problem - tax revenue is gushing in ahead of all budget predictions. This is “despite” Tennessee having no state income tax.

Another month and more surplus tax money is flooding into Tennessee government coffers — an additional $129.4 million in January, or almost 12% more than anticipated, according to Gov. Bill Lee's administration.

“During January, total tax collections came to $1.55 billion, due primarily to strong growth in state sales taxes and corporate taxes, according to state Finance Commissioner Stuart McWhorter.

It was "driven by solid performances in retail and manufacturing sales," McWhorter noted.

Oh, by the way, manufacturing jobs are flooding into the state. This is despite the grave dances performed by Globalist RINOs and Principled Free Traders back when Mr. You-Didn’t-Build-That had his regulators’ feet on the throat of businesses trying to employ deplorable Americans and engage in domestic manufacturing.

Sauces:

https://www.timesfreepress.com/news/local/story/2020/feb/16/january-tax-collections-drive-tennessee-budge/515816/

https://www.timesfreepress.com/news/local/story/2020/jan/21/amid-tennessee-budget-surplus-hazlewood-carte/513583/

https://georgiarecorder.com/brief/senate-finance-chairman-says-he-doesnt-see-the-math-for-second-tax-cut/