Tennessee sales tax collections suffered their worst drop in 47 years this month, officials said Tuesday.
[..] Using his numbers, Dr. Fox is projecting as much as a $600 million shortfall, which appears to take into account the $180 million in previously stated reductions.
[..] Commissioner Goetz later said in an interview that the state likely will have to cut "substantially more" than the $389 million.
Analysts blame the shortfall on the slowing economy. In my opinion, lack of consumer confidence is also a factor as people cut back on non-essential purchases.
P.S. But see, this is the great thing about a sales tax. You can voluntarily give yourself a tax cut!
