Administration wants 2 percent budget cuts

Despite $925 million in tax collections over budget for the most recent fiscal year, Gov. Bill Haslam's administration is still asking state agencies to prepare 2 percent across-the-board budget cuts for next year.

According to a memo by Finance Commissioner Larry Martin, the cuts are necessary to offset expected revenue losses from the phase-out of the Hall Income Tax. As Tom Humphrey sums up on his blog: