Merry Christmas & Happy New Year

Nashville, Tenn. — The Tennessee Department of Transportation (TDOT) revealed its first-ever proposed 10-year fiscally-constrained project plan today, with the goal of better communicating with citizens and communities of the long-term investment strategy for infrastructure in Tennessee.

The $15 billion fiscally constrained plan includes both the annual TDOT work program budget of approximately $1.2 billion for 10 years plus the $3 billion State General Fund appropriation provided in the Transportation Modernization Act (TMA), proposed by Governor Lee, and passed by the General Assembly earlier this year.

There are 93 site-specific capacity-type projects in the plan, 46 of which are funded fully or in part by the $3 billion. For the first time, TDOT has identified the funding necessary to complete all projects in the plan, ensuring “what gets started, gets finished.”

NASHVILLE – Tennessee Department of Finance and Administration Commissioner Jim Bryson recently announced that November revenues were less than budgeted estimates in November. Overall November 2023 state revenues were $1.426 billion, which is 4.38 percent less than November 2022 and $88.4 million less than the budgeted estimate.

“November revenues were less than estimates for the month partially due to the three-month sales tax holiday on food, which ended on October 31 but reported in November’s tax collections,” Bryson said. “Corporate tax revenues, or franchise and excise taxes, were also lower with quarterly estimated tax payments from business entities decreasing from this same time last year.