Tennessee also grappling with budget shortfall

The list of states facing budget shortfalls in the hundreds of millions, if not billions, looks to be growing even longer as budget teams around the country look at sagging revenues. 

Theo Emery with The Tennessean reports today that Tennessee’s budget folks are looking to patch up to a $1.02 billion hole in their current budget year which like Kentucky’s runs through the end of June. 

The State Funding Board has announced that Tennessee expects to see annual revenue collections come up short by between $884 million and $1.02 million, with a possible $1 billion shortfall next year, too. That’s from a single-year state budget there of $27 billion. 

While Tennessee’s budget shortfall could be double what Kentucky is facing for the current fiscal year, Kentucky’s two-year spending plan is about $19 billion, which puts Kentucky in worse shape than its neighbor to the south. 

Gov. Ste

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