On the heels of the Department of Revenue’s announcement today that the state has once again exceeded monthly revenue projections, the Tennessee Education Association (TEA) released a statement accusing Gov. Bill Lee of stuffing mattresses full of cash rather than spending money on K-12 education.
Here’s the statement from TEA:
“Today’s announcement on state revenues from the Department of Finance and Administration further validates TEA’s criticism of Gov. Bill Lee’s budget amendment released earlier this week.
The state has racked up $1.42 billion in surplus year-to-date. The money is there to make a significant increase to K-12 funding. Gov. Lee is choosing to stuff mattresses full of cash instead of investing in Tennessee students.
We can and must do better by our students, educators and public schools. It’s time for state leaders to choose to get Tennessee out of the bottom five for state investment per student.”
TEA’s statement comes in the same week Lee released a budget amendment with little new money for public schools. Earlier in the week, the Tennessee Public Education Coalition (TPEC) called on Lee to improve his budget amendment by directing more funds to public schools.
Tennessee’s coffers are awash in excess revenue, and our schools’ needs are immense. Tennessee’s surplus for the current fiscal year, with over five months to go, is over $1.3 billion, with lawmakers expected to have at least $3.1 billion in excess revenue to budget in the current cycle. Tennessee also has $7.5 billion in cash reserves. Our children need excellent schools, and our teachers need adequate pay. Public schools need more resources- social workers, school nurses, counselors, and adequate support staff. With tax revenues exceeding state expenses by more than $2 billion per year and more than $7 billion cash reserves, there is no longer any excuse for failing to invest in our children.
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