State Rep. Bob Ramsey, R-Maryville, provided an outlook on Tennessee’s recent and future legislation Thursday during the Kiwanis Club of Alcoa’s weekly meeting at the Airport Hilton.
The Maryville resident gave the room of Kiwanians a “thumbnail sketch” of the most important topics currently being explored and tackled by Tennessee officials.
Ramsey said the state’s “good fiscal management” has resulted in significant budget reductions and about $730 million in tax cuts over the last eight years.
“This gives us good opportunity for business activities,” he said.
In addition to cutting the food tax three times, state legislators have eliminated estate and death taxes and are currently in the process of phasing out the Hall Income Tax — the only personal income tax in Tennessee.
“With the passage of the gas tax, there is a definite end to the Hall tax,” explained Ramsey, noting that the Hall tax will decrease a certain percentage at intervals until it no longer exists.
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