General Assembly passes $58.3 billion budget

The Tennessee House and Senate on Thursday passed the state’s $58.3 billion budget for the 2026-27 fiscal year, fulfilling the General Assembly’s only constitutional duty.

This year’s spending plan reflects a continued return to more typical economic growth following several years of record-high revenues. The budget reaffirms the General Assembly’s longstanding commitment to fiscal responsibility while making targeted investments to strengthen Tennessee’s economy, improve education, and support families across the state.

"We can be proud that we have held the line on recurring expenditures, preserved Tennessee’s reputation as one of the lowest-taxed states in the nation and continued investing in our core priorities," said House Finance Chair Gary Hicks, R-Rogersville. "This budget reflects our steadfast commitment to fiscal responsibility and demonstrates why Tennessee remains a strong national model of prudent governance."