“Dylan Grundman, senior analyst at the Institute on Taxation and Economic Policy, called elimination a “major step backward for tax fairness in Tennessee, not to mention a brazen giveaway to the wealthiest Tennesseans.
“Already, Tennessee’s lack of a broad-based income tax and comparatively high sales tax make the state’s tax system one of the most regressive in the nation,” Grundman said. “By repealing the Hall tax, Tennessee lawmakers are doubling down on an upside-down tax system that taxes the poorest 20 percent of Tennesseans at a rate nearly four times the rate it taxes the top 1 percent.”
He warned that “eliminating this important source of revenue for both the state and its localities is likely to mean funding cuts to Tennessee services as well as property tax hikes down the road.””
Dylan Grundman, senior analyst at the Institute on Taxation and Economic Policy, called elimination a “major step backward for tax fairness in Tennessee, not to mention a brazen giveaway to the wealthiest Tennesseans.
“Already, Tennessee’s lack of a broad-based income tax and comparatively high sales tax make the state’s tax system one of the most regressive in the nation,” Grundman said. “By repealing the Hall tax, Tennessee lawmakers are doubling down on an upside-down tax system that taxes the poorest 20 percent of Tennesseans at a rate nearly four times the rate it taxes the top 1 percent.”
He warned that “eliminating this important source of revenue for both the state and its localities is likely to mean funding cuts to Tennessee services as well as property tax hikes down the road.”Dylan Grundman, senior analyst at the Institute on Taxation and Economic Policy, called elimination a “major step backward for tax fairness in Tennessee, not to mention a brazen giveaway to the wealthiest Tennesseans.
“Already, Tennessee’s lack of a broad-based income tax and comparatively high sales tax make the state’s tax system one of the most regressive in the nation,” Grundman said. “By repealing the Hall tax, Tennessee lawmakers are doubling down on an upside-down tax system that taxes the poorest 20 percent of Tennesseans at a rate nearly four times the rate it taxes the top 1 percent.”
He warned that “eliminating this important source of revenue for both the state and its localities is likely to mean funding cuts to Tennessee services as well as property tax hikes down the road.”
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