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NASHVILLE, Tenn.—Americans for Prosperity-Tennessee (AFP-TN) on Thursday commended state Senators for advancing Senator Brian Kelsey’s bill to permanently ban the so called “Hall Tax,” an outdated personal income tax on investment interest and dividends.
“The ‘Hall Tax’ is nothing more than an income tax by another name,” said AFP-TN State Director Tori Venable. “It deters saving and investing for the future and disproportionately affects those who have retired and are on fixed incomes. We should be doing all we can to encourage responsible planning in life, not penalizing it. Senator Kelsey’s bill would ensure this tax never comes back to haunt Tennesseans. We thank the senators who voted to advance this bill, and we strongly urge their House colleagues to do the same.”
Kelsey’s legislation would amend the Tennessee Constitution to ban the tax. Any Constitutional amendment passed by the legislature must be approved by the voters during the next general election for Governor in 2022.
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