Hall Tax Repeal Will Benefit Tennessee’s Economy
Just before the Tennessee General Assembly turned off the lights and closed up shop for the 2016 session, a group of bipartisan legislators passed a bill that phases out the Hall Income Tax. While Tennessee is one of nine states that levies no personal income tax on wages, the Hall Tax applies to income earned through saving and investment. Repealing the Hall Tax not only incentivizes investment, the lifeblood of business, but also contributes to economic growth by allowing Tennesseans to keep more of their own money.
Horvath, Joe (2016, May 15). Hall Tax Repeal Will Benefit Tennessee’s Economy. Tennessean. Retrieved from http://www.tennessean.com/story/opinion/contributors/2016/05/15/hall-tax-repeal-benefit-tennessees-economy/84246064