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Grassroots group praises legislature for repealing Hall Tax
NASHVILLE, TN – Americans for Prosperity-Tennessee (AFP-TN) commended the state legislature for including a repeal of the Hall Tax in the budget. The tax was an outdated personal income tax on investment interest and dividends that has been slated for repeal since 2016.
AFP-TN State Director Tori Venable issued the following statement:
“With the repeal of the Hall Tax, Tennessee can now be truly considered income-tax free. This $48 million tax disproportionately affects retired Tennesseans on fixed incomes, and we’re pleased to see the legislature finally repeal this tax. It will protect current retirees and future generations from overzealous local governments imposing an income tax on their savings. We thank legislators for ending the retirement income tax that penalized and double-taxed personal responsibility.”