Marc Gravitt Praises Effort To End Hall State Income Tax

Tuesday, March 4, 2014
Marc Gravitt, Republican candidate for Tennessee House District 30, praised the announced state legislation to eliminate the Hall Tax. Established by the Tennessee General Assembly in 1929, the Hall Tax is the only income tax the state of Tennessee imposes on personal income by taxing the interest and dividend income from investments and saving funds of Tennessee residents.
 
"This is exactly the type of good government our citizens want and deserve," Mr. Gravitt said.
"Taxing the interest on the investments and savings of Tennesseans only discourages people from saving for retirement. By eliminating this progressive tax, Tennessee will become a more attractive home for retirees as we are no longer penalizing seniors who have scraped and saved for their future and live on a fixed income derived primarily from investments."

Senate Commerce Committee Vice Chairman Mark Green, R-Clarksville, and House Finance Committee Chairman Charles Sargent, R-Brentwood, held a press conference today in Nashville announcing their joint efforts to gradually reduce the Hall Tax over a period of six to seven years.

"This legislation will remove the double taxation from citizens who save and those who invest," said Rep. Sargent.

Senator Green said the Hall Tax up to this point has been a disincentive for citizens who save and invest, saying, "The Hall Tax is a punishment against thrift and a penalty for investment."

Joining Senator Green and Rep. Sargent were Tim Phillips, president of the Americans for Prosperity, and Grover Norquist, president of Americans for Tax Reform.

"If you want to know where good things are happening, you have to look to the states," said Mr. Norquist. "Tennessee will now be a non-income tax state."

Mr. Phillips said, "There is a genuine economic freedom revolution at the state level. Tennessee is removing this double taxation from those who invest and save."
 
The current rate for the Hall Tax is six percent, which is applied to all taxable interest and dividend income.
 
"Tennesseans who have a retirement plan with mutual funds and stocks will benefit from the elimination of the Hall Tax," said Mr. Gravitt. "As a conservative, I strongly encourage the Tennessee General Assembly to support this important legislation that will eliminate Tennessee's last remaining income tax. Our state is ready for this change and ready for the economic liberty it will bring."

Mr. Gravitt is seeking the GOP nomination for the Tennessee House seat for District 30. The state primary election is Aug. 7, and early voting runs from July 18 to Aug. 2. The general election for this state office will be held on Tuesday, Nov. 4. 

Latest Hamilton County Jail Booking Report

Here is the latest jail booking report from Hamilton County: ALLGOOD, PHILLIP RICHARD  2603 BELLE ARBOR CHATTANOOGA, 37406  Age at Arrest: 53 years old Arresting Agency: Hamilton County VIOLATION OF ORDER OF PROTECTION OR RESTRAINING OR --- AUSTIN, VANCE LEE  6974 BOSTON LANE HIXSON, 37343  Age at Arrest: 71 years old Arresting Agency: Chattanooga ... (click for more)

Michael Ford Sentenced To More Than 13 Years In Prison On Drug Charges

Michael Shawn Ford has been sentenced to 13 and a half years in prison on drug charges. On April 20, 2105, Ford was arrested at his house in East Ridge. Police found him hiding in the closet with a laundry bag which contained a loaded pistol and 7.9 grams of crystal meth. Officers said that two backpacks were found in the same bedroom, one with 257.3 grams of crystal meth ... (click for more)

Olympic Events On The Ocoee River Made History – But It Wasn’t Easy

It started with a simple “what if” question while Atlanta officials were working on a bid to host the 1996 Summer Olympic Games.  A group of amateur kayakers from the city began asking themselves: “What if Atlanta’s bid is successful? Then where would the Olympic whitewater canoe and kayak races be held?”  To some of the members of that group, the answer was obvious. ... (click for more)

Roy Exum: Don’t Kick A Man’s Neck

From the minute my brothers and I each became cognizant, my dad started teaching us the rules of becoming a man. Dad was from deep in Mississippi and he’d been taught a lot of life’s secrets from his father. These lessons have been passed for generations and, the older I have become, I’m convinced a lot of them were borne from The Sermon on the Mount. Our favorite, back in the ... (click for more)

Lookouts Get Walk-Off Win Over Smokies Thursday, 4-3

With the score tied at three with one out in the bottom of the ninth inning, Lookouts outfielder Zack Granite singled home Edgar Corcino to give the team with 4-3 walk-off win over the Smokies.   Tied going into the bottom of the ninth inning, Corcino led off with his second hit of the game. He advanced to second base on a bunt. A Levi Michael single pushed Corcino to third ... (click for more)

Chattanooga FC Hosts NPSL National Semifinal Saturday

All eyes are on Saturday as Chattanooga FC prepares for the NPSL National Championship Semifinal match against Sonoma County Sol at Finley Stadium. In efforts to FILL "FORT" Finley, CFC has extended their discount on $7 tickets until Thursday at 2:00. After 2:00, tickets will be $10 until 6:00 on Saturday, when the price will rise to $12. Tickets are available online at ChattanoogaFC.com.  ... (click for more)