Bill seeks to repeal Tennessee "death tax" - WRCBtv.com | Chattanooga News, Weather & Sports

Bill seeks to repeal Tennessee "death tax"

NASHVILLE, Tenn. (AP) - A proposal to repeal the state's estate tax is advancing in the House.

The measure passed the House Finance Subcommittee on a voice vote on Wednesday. The companion bill is awaiting a vote in the Senate Finance Committee.

Under the proposal, the tax - also called the "death tax" - would be gradually phased out over the next four years.

Republican House Speaker Beth Harwell of Nashville said the proposal is beneficial because the death tax "drives people, capital and jobs out of the state."

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