Rep. Gerald McCormick spoke to the Kiwanis Club on Tuesday, updating community members about some of the state’s most significant achievements and decisions this past year.
First, Rep.
McCormick mentioned that Tennessee has achieved a AAA bond rating and has consistently submitted a balanced budget every year, which was more than $33 billion overall.
He also said that officials were able to do that without exceeding the Copeland cap, a restriction which prevents the budget from growing faster than the previous year’s average personal income growth.
In other financial news, the state rainy day fund has reached its second highest point since pre-recession levels in 2007.
The state also invested in education with $260 million in capital projects for higher education.
Finally, he said that he believes that bipartisan cooperation is essential to real progress. Republicans currently hold a supermajority in Tennessee.