2008-2009 Budget Update Address
Governor Bredesen's 2008-2009 Budget Update
Stick to the Basics, Live Within Our Means
Governor Phil Bredesen presented his 2008-2009 Budget Update Address to the 105th General Assembly in the State House Chambers at 5 p.m. CDT on Monday, May 12.
Archived video of the Governor's Address is available by clicking the button below
(video may take a few minutes to start playing)
Governor Phil Bredesen addressed the General Assembly on May 12, 2008, to provide an update to the recommended 2008-2009 budget proposed in January. The Governor believes that state government, like a family or business, must live within its available resources.
The nation's economy has affected Tennessee, but Governor Bredesen has outlined a plan that balances our budget with no new taxes in spite of these difficult times. The Governor's approach keeps pre-K-12 education a top priority, including $60 million in new dollars for inflationary growth, while preserving the state's Rainy Day fund to ensure we have the necessary resources available until the economy recovers.
For more detailed information:
- Speech Text - Read the Governor's May 12 speech to the members of the General Assembly.
- Press Release - Read a press release regarding the Governor's revised budget proposal for 2008-2009.
Information and documents from Governor Bredesen's January 2008 State of the State Address can be found at the Governor's Virtual Budget Room.
Governor Bredesen's budget and management priorities include:
- Submitting a balanced budget. Governor Bredesen knows that state government, like a family or business, must live within its available resources.
- Preparing for economic downturns. Governor Bredesen has built Tennessee's "rainy day" fund to an all-time high so the state is prepared to manage as effectively through any downturns in the economy as it does during times of economic prosperity.
- Re-building investor confidence. Governor Bredesen has restored fiscal stability and sound management to state government. An upgrade of the state's bond rating by Moody's in 2007 followed upgrades the year before by Fitch and Standard & Poor's, confirming that a commitment to common sense budgeting, smart investments in education and health care, and record rainy day reserves are moving Tennessee in the right direction.
- Maintaining a hands-on approach. As a businessman, Phil Bredesen took active roles in the management of successful companies. As Governor, he's active in the budget process and has opened administrative budget hearings, allowing taxpayers to see for the first time the decisions that are made on how their money is spent.
To share your feedback with the Governor about the 2008-2009 state budget, please e-mail him at Phil.Bredesen@state.tn.us
