Haslam proposes cuts in some taxes - WRCBtv.com | Chattanooga News, Weather & Sports

Haslam proposes cuts in some taxes

Posted: Updated:

Associated Press

NASHVILLE, Tenn. (AP) - Gov. Bill Haslam says he wants to make reductions in the state's estate tax and a small reduction on the sales tax on groceries.

Tuesday's announcement marked a reversal from the Republican's previous statements that he didn't believe the state could afford a tax break amid a tough budget situation.

The proposal would lower the sales tax on food from 5.5% to 5.3%.

Haslam's plan would also increase the inheritance tax exemption from the first $1 million to $1.25 million. The governor said ultimate goal is to bring Tennessee's exemption to federal level of $5 million.

Among the governor's other proposals are bills to change civil service rules among state employees to make it easier to hire and fire state workers, create more cash incentives for businesses locating in Tennessee and restructuring 22 state boards and commissions.

The General Assembly kicked off second session of the 107th General Assembly earlier on Tuesday.

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow
Can't find what you're looking for?

900 Whitehall Road
Chattanooga, TN 37405
(423) 267-5412

WRCB Jobs EEO | FCC Public Files

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WRCB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.