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From Tennessee Lawmaker Requests One-Month Suspension of State Gas Tax

How could the requested gas tax suspension affect the Tennessee Department of Revenue?

Possible What happens if… A possibility worth considering, not a forecast.

The Department of Revenue could see a temporary drop in gas tax collections If Governor Bill Lee approves the request from Senator Tom Hatcher, the Tennessee Department of Revenue would experience a temporary reduction in state income. Hatcher asked for a one-month suspension of the state's 27.4-cent gas tax, starting November 1. This measure is proposed to help motorists during the holiday season, though the state faces a significant backlog of $58 billion to $87 billion in road and bridge construction projects over the next three decades, requiring $3.6 billion annually for maintenance and improvement.

Reported by 2 independent outlets Written Oct 15
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How it reaches Tennessee Department of Revenue

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The facts so far

As reported. Each one links to where it comes from.

  • Sen. Tom Hatcher requested Gov. Bill Lee suspend Tennessee's 27.4-cent gas tax during November.timesfreepress.com
  • The requested gas tax cut would take effect Nov. 1 and last 30 days.timesfreepress.com
  • Tennessee struggles with a backlog of $58 billion to $87 billion in road and bridge construction projects over the next three decades.timesfreepress.com
  • The state needs $3.6 billion annually to maintain and improve roads.timesfreepress.com

Why it matters

The gas tax is a crucial revenue stream for the state of Tennessee, supporting important transportation priorities statewide. The state faces a massive financial challenge, with a backlog of $58 billion to $87 billion in road and bridge construction projects over the next three decades, requiring $3.6 billion annually just for maintenance and improvement.

Any temporary reduction in this revenue stream, even if minimal, could complicate the state's ability to fund its long-term infrastructure goals. Lawmakers who supported the gas tax increase in 2017 have faced political consequences, demonstrating the sensitivity of this revenue source within the state's political landscape.

What we don't know yet

  • Will Governor Lee approve the one-month suspension request?
  • What is the state's contingency plan if gas tax revenue drops during the suspension period?

Is this still moving?

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1
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67%

What would change this answer

Governor Lee approves the suspensionThe Department of Revenue will experience the temporary reduction in gas tax collections.
The state announces a new infrastructure funding sourceThe pressure on the gas tax revenue stream may lessen, making the suspension less critical to the state budget.

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The full eventTennessee Lawmaker Requests One-Month Suspension of State Gas Tax Everything aboutTennessee Department of Revenue

Brind's analysis is written by AI from the reporting linked above and can be wrong. This explainer is a possibility worth considering, not a forecast: steps marked as Brind's reasoning are not stated in the reporting. It is not investment advice; do your own research.