NASHVILLE, Tenn. -- A lawmaker on Wednesday forecast a dark economic future for Tennessee while Nashville Chamber of Commerce representatives were more optimistic.

Related: 4 Discussion: Gas Prices | Special Section: Gas Prices | Video

Tennessee House Speaker Jimmy Naifeh’s comment about the state's economic outlook came during a press briefing in which Gov. Phil Bredesen assessed the recent legislative session.

"It looks bleak," Naifeh said.

Naifeh said Tennessee would see some hard cuts next year like the ones that were made this year. He added that the state government and all residents would have to try to live within means as best as possible.

"When you buy your gas and your groceries, there's not a whole lot of disposable income left over," he said.

During his assessment of the Legislature, Bredesen said high gas prices could impact the state more than residents think.

Bredesen said that even though people are suffering at the pump, one of the biggest problems is how it could impact the sales tax.

The legislative session wrapped up late Wednesday night.

Lawmakers adjourned for the year after lawmakers passed a $27 billion state budget that cuts jobs, education and health care spending to fill a nearly $500 million revenue shortfall.

During the briefing, the subject turned to gas prices. Bredesen told reporter Jeremy Finley that one of his concerns was about the price residents would pay to drive from place to place.

Bredesen added that he was also concerned because if people are spending more on gas, then they are probably spending less on taxable items like clothes, food or other items.

"When it happens with the speed and intensity as it has, over the course of this past year, there's no question it represents problems to people," Bredesen said.

If there is a slowdown in spending, it means the state gets less money from sales tax, which means the state gets less money for programs.

"I think one of the things that's helped make this slowdown a little more intense for the state of Tennessee and its particular structure has been our dependence on the sales tax and the removal of part of that sales tax base to go to pay for this higher-priced gas," Bredesen said.

Bredesen said there is not much he can do about the gas prices. He said that he thinks the issue is getting enough attention nationally that people that can make a difference will do so.

Lawmakers Pleased With Budget Despite Shortfall

Bredesen thinks he and the Tennessee Legislature handled a $468 million shortfall as best as they could.

The budget did not raise taxes, borrow locally shared tax money or take money out of the transportation fund -- all of which have been done in the past to counter revenue shortfalls.

Instead, it will offer generous buyouts to 2,000 state employees. Bredesen and lawmakers think that will prevent the need for layoffs at the beginning of next year.

"This is a good way to reduce expenses without really hurting or damaging employees," Bredesen said Thursday.

The buyout plan will cost roughly $50 million but eliminate about $64 million in annual payroll spending.

The state will offer packages worth between $23,000 and $47,000 -- depending on a worker's length of employment -- along with cash incentives, 18 months of health insurance benefits and two years of tuition to a state community college or university.

Administration officials have said workers near retirement and those with fewer 10 years of service are most likely to take the buyout. The goal is to reduce the state work force by 5 percent, but layoffs will begin in January if not enough workers accept the package.

On top of whittling down spending, lawmakers managed to achieve some of their largest goals for the session.

More than 12,000 students will either get or keep lottery scholarships under changes approved by lawmakers just hours before passing the budget. It was something the General Assembly tried to do during last year's session before giving up on it in another late-night session.

Both Democrats and Republicans got part of what they wanted in the $28 million compromise deal, which will lower the grade point average for retaining scholarships to 2.75 through the end of a the junior year. There will also be no cumulative GPA requirement.

"This really is a milestone for us," said Naifeh. "Even thought we didn't get the entire four years, we felt very good about what we got."

Republicans successfully negotiated to make it easier for nontraditional students, or students who attend college at least several years after graduating from high school, to obtain and keep HOPE scholarships.

"The irony is, we all really were in agreement over a lot of things this year," said Senate Speaker Ron Ramsey, R-Blountville.

Also included in the budget is a measure to allow more long-term care options for the elderly.

TennCare, the state's expanded Medicaid program, currently spends almost all its annual $1.2 billion long-term care budget on nursing homes. But the budget will reallocate about half of those funds toward home-based care over the next decade.

Bredesen said he was sorry that he had to trim an expansion to the state's pre-kindergarten program as part of the cuts. Pre-K expansion was one of his top priorities for the year with the HOPE scholarship changes and long-term care.

"I needed to take my favorites out of the budget before I asked anyone else to take their favorites out," he said.

Nashville Chamber Of Commerce Casts Fair Forecast

Despite what Bredesen and Naifeh said, the Nashville Chamber of Commerce had a brighter outlook for the state’s economic outlook.

The chamber said business leaders are working to bring 39 new companies to middle Tennessee and that the companies would account for about 10,000 new jobs and $1 billion in capital investments.

The Chamber hosted Thursday's talks about its 2010 economic development initiative on how to attract new business to the area, which already has a good track record.

Leaders pointed out a number of companies who've moved their headquarters to the area, including Oreck and Verizon.

Nissan also has relocated its corporate headquarters to Franklin and is set to occupy its new facility in the Cool Springs area soon.

Related Link:

Nashville Chamber of Commerce

Notable Winners, Losers Of Legislature

Winners:

Budget: $27 billion state budget that cuts spending next year by nearly half a billion dollars.

Lottery Scholarships: Changing rule eligibility for lottery scholarships, including measure that loosens requirements for maintaining a scholarship.

Competitive Cable: Creating statewide permits for cable TV providers. (signed by governor).

Fake Guns: Making it a crime to brandish fake guns in a threatening manner.

Mixed Martial Arts: Legalizing and regulating mixed martial arts competitions in Tennessee.

Bible Curriculum: Allowing the state Department of Education to develop a curriculum for the academic study of the Bible.

Child Abuse: Adding starvation and dehydration to the list of child abuse charges.

Confiscated Liquor: Allowing the state to sell confiscated items like booze and cars in online auctions. (signed by governor).

Losers:

Abortion Resolution: Amending the state constitution to expunge protections for abortion rights.

Abortion Consent: Requiring 24-hour waiting period before abortions.

Driver's License Diploma: Requiring a high school diploma or GED before granting driver's licenses until age 21.

Guns In Bars: Allowing people to carry handguns into bars and restaurants.

Mountaintop Removal: Banning mountaintop-removal coal mining in Tennessee.

Convicted Lawmakers: Denying health insurance benefits to convicted lawmakers.

Wine In Supermarkets: Allowing wine sales in supermarkets.

Adult Entertainers: Require strippers to be at least 21 years old.

Animal Fighting: Making it a felony to train animals to fight.