A Discussion with Tennessee Leaders: Hall Tax Repeal, Right-to-Work and Economic Growth
This week, the Center for State Fiscal Reform team sat down with Tennessee State Treasurer David Lillard and State Representative Susan Lynn for a virtual discussion on state economic growth, the Hall income tax repeal and more.
Now that the Hall tax on interest and dividend income has been completely phased out, Tennessee is officially a no personal income tax state. In our conversation with Treasurer Lillard and Representative Lynn, we discuss the hurdles to repeal and the motivation to eliminate the tax.
As noted in Rich States, Poor States, the Volunteer State is also a Right-to-Work state, has a low property tax burden, levies no death tax, and adheres to the federal minimum wage of $7.25. These factors, combined with no personal income tax, have undoubtedly led to growth and given the state a strong economic outlook.