First, we must not look to new or higher taxes to solve our problems.
- The best long-term solution to our budget problem is strong economic growth. As Governor, my top priority will be to make Tennessee the best state in the Southeast for creating high-quality jobs. In order to accomplish that, we must maintain a business-friendly environment in our state. That means we must keep taxes low.
- I am 100 percent opposed to a state income tax. The last thing I want to do is discourage new business from coming to Tennessee and make life harder for Tennesseans who are already struggling.
Second, we must manage conservatively.
- Tennessee needs a leader with experience running large, complex organizations and managing in tough times.
- Like anything else, managing a complex budget in times of shrinking resources is a skill that improves with practice. As president of one of Tennessee’s largest companies, I had to watch every penny we spent and make thousands of tough decisions about how to allocate resources.
- As Mayor of Knoxville, I have had to do the same as the city faced challenging economic times. I have governed conservatively, submitting six balanced budgets to the City Council, decreasing the city’s debt, and nearly tripling the city’s Rainy Day Fund, all while bringing property tax rates to their lowest levels in more than 50 years.
Third, we must fundamentally rethink the role of state government.
- In these tough economic times, we must rethink the way government does business. We must make state government leaner and use taxpayer dollars as efficiently and effectively as possible. Potential cuts to the state budget must be thoughtful and targeted rather than across-the-board. It is important that we set priorities and do everything we can to protect key state government functions.
- The entire state government should be reviewed from top to bottom. As Governor, I will create a taskforce of state and local government leaders and business representatives to perform an extensive review of state government. This taskforce will make recommendations for how we can eliminate waste and save money while protecting and streamlining the vital functions of state government. I will initiate the project as soon as I take office.
- There are examples of similar reviews from all over the country. At least 20 states have achieved savings by undergoing top-to-bottom reviews of every single business practice in the state. In Indiana, for example, they identified over $205 million in savings over the life of existing contracts.
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