The IRS recently announced that it will increase the standard mileage rate for qualified business driving for the second half of 2022. Beginning July 1, 2022, the standard mileage rate for business travel will be 62.5 cents per mile. Tennessee Tech follows the State of Tennessee Department of Finance and Administration standard reimbursement rate schedule, which has recently been updated to adopt the IRS business standard mileage rate. We will monitor this rate regularly as fuel costs change and update the Chrome River travel expense management system accordingly. Please email travel@tntech.edu if you have any questions regarding this update.