Tennessee vs New Jersey Budget FY2024
Spending, revenue and category allocations compared side by side.
Key Budget Metrics โ Tennessee vs New Jersey
Tennessee
$53.1 billion
New Jersey
$91.3 billion
Tennessee
$21.4 billion
New Jersey
$53.0 billion
Tennessee
โ
New Jersey
โ
Tennessee
$23.9 billion
New Jersey
$52.4 billion
Tennessee
$2.0 billion
New Jersey
$322 million
Tennessee
$589.8 billion
New Jersey
$887.2 billion
Receipts & Expenditure Comparison
| Particulars | Tennessee | New Jersey | Difference |
|---|---|---|---|
| Total Expenditure (all funds) | $53.1 billion | $91.3 billion | -41.9% |
| General Fund Expenditure | $21.4 billion | $53.0 billion | -59.6% |
| Total Revenue | โ | โ | โ |
| General Fund Revenue | $23.9 billion | $52.4 billion | -54.4% |
| Rainy Day Fund | $2.0 billion | $322 million | +536.6% |
| State GDP | $589.8 billion | $887.2 billion | -33.5% |
Tennessee per resident
$7,256
New Jersey per resident
$9,561
Tennessee โ Spending Composition
New Jersey โ Spending Composition
Category-wise Allocation โ Tennessee vs New Jersey
| Category | Tennessee | New Jersey | Difference |
|---|---|---|---|
1. All Other | $16.0 billion | $30.3 billion | -47.1% |
2. Medicaid | $15.8 billion | $22.9 billion | -31.1% |
3. K-12 Education | $9.7 billion | $21.3 billion | -54.6% |
4. Higher Education | $7.4 billion | $7.7 billion | -4.5% |
5. Transportation | $2.9 billion | $7.7 billion | -62.3% |
6. Corrections | $1.4 billion | $1.5 billion | -7.0% |
Compare Another Fiscal Year
Understanding This Comparison
State budgets are compared on an all-funds basis โ the total across the general fund, federal grants, and dedicated state funds. This is the fairer measure, because states differ widely in how much they route outside the general fund. The general fund row shows the discretionary portion that state legislatures actually debate.
Fiscal years differ between states: most run July to June, Alabama and Michigan run October to September, and New York runs April to March. Figures labelled with the same fiscal year therefore cover slightly different periods.
Definitions for every term used here are in the US budget glossary. To compare across countries, see India budget comparisons.
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