As Lawmakers Eye Tennessee’s Millions In Surplus, A Warning From The State Comptroller

Don’t blow it. That’s state comptroller Justin Wilson’s advice to lawmakers on how to handle Tennessee’s growing surplus.

The warning comes as officials are ramping up work on next year’s budget.

Tennessee has brought in nearly $1 billion more in tax collections than expected over the past 17 months. That’s some serious money, but Wilson isn’t taking a victory lap. Instead he’s sounding the alarm.

“What is the blueprint to disaster? How can you botch things up?”

He says lawmakers could ruin the state’s finances by cutting taxes or spending money on new programs.

Wilson,
like his counterparts in a lot of states, believes Tennessee’s surplus is just mirage. The economy may be doing better, but Wilson cautions against going on a spending spree.

He recommends spending money on maintenance and other programs that’ll save the state money in the long run. He also says Tennessee should set aside more money for the next economic downturn.

Wilson answers to the legislature, but he and Gov. Bill Haslam appear to be on the same page. Haslam will lay out his budget plans on Monday, and he says they’ll be frugal.