Tennessee’s Hall Tax, as of this coming Friday, will cease to exist.
Experts say that will bring new opportunities to Tennessee and make the state’s economy more competitive.
The Hall Tax, instituted in 1929, applies a 6 percent tax to Tennesseans’ interest and dividend income. In 2016 members of the Tennessee General Assembly phased out the Hall Income Tax over years of scheduled reductions. Read More
Tennessee Gov. Bill Lee ranks seventh in The American Legislative Exchange Council’s new scorecard that assesses America’s 50 governors on policy performance and leadership before and after the start of the COVID-19 health crisis. Members of the Arlington, Virginia-based ALEC released their 2020 Laffer-ALEC Report on Economic Freedom Tuesday.… Read More
Tennessee tax revenues for the month of July exceeded the budgeted estimate by $667.1 million, Tennessee Department of Finance and Administration Commissioner Butch Eley announced Thursday.
Overall revenues of $1.86 billion in July were $689.4 million more than state revenues in July 2019.
The higher-than-expected revenues for July has the state finishing the 2019-2020 fiscal year in a surplus position of $369.2 million against the budgeted estimate and 2.42 percent above last year, despite the impacts of the COVID-19 economic slowdown. Read More
Tennessee ranks eighth out of 50 states in economic outlook, according to the 2020 edition of Rich States, Poor States, released Wednesday.
The Virginia-based American Legislative Exchange Council published the book. Economists Jonathan Williams, Art Laffer, and Stephen Moore wrote it. The authors say they base a state’s economic outlook ranking on its current standing in 15 state policy variables. Read More
Tennessee ranks 23rd this year on the American Legislative Exchange Council’s Annual Report Card on American Education. Read More
People are fleeing high tax states and relocating to states such as Tennessee, according to Stephen Moore of the American Legislative Exchange Council. Read More
State Senate Minority Chairwoman Raumesh Akbari, a Democrat, plans to sponsor legislation that could automatically help restore the right to vote for people with low-level felony convictions. But some research indicates felons, when given the chance, overwhelmingly pull the levers for Democrats. Is Akbari, who represents Memphis’ 91st District, doing… Read More