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. 

Search On At Chickamauga Creek For Missing Kayaker From Rossville

1 Person Unaccounted For In Early Morning House Fire On Wilcox Boulevard

Latest Hamilton County Arrest Report


TWRA officers along with STARS Rescue Service, East Ridge Fire, Chattanooga Fire and Chattanooga Police have continued searching for Robert “DJ” Young, 26, from Rossville, Sunday morning. ... (click for more)

One person is unaccounted for in a house fire that occurred Sunday morning. The Chattanooga Fire Department has been battling a second alarm house fire on Wilcox Boulevard with possible ... (click for more)

Here is the latest Hamilton County arrest report: AMBROCIO-REYNOSO, HIGINIO 2716 13TH AVE CHATTANOOGA, 37404 Age at Arrest: 38 years old Arresting Agency: Chattanooga ASSAULT --- ... (click for more)



Breaking News

Search On At Chickamauga Creek For Missing Kayaker From Rossville

TWRA officers along with STARS Rescue Service, East Ridge Fire, Chattanooga Fire and Chattanooga Police have continued searching for Robert “DJ” Young, 26, from Rossville, Sunday morning. Mr. Young was reported missing and his possessions were found in an overturned kayak on Chickamauga Creek on Saturday. Mr. Young’s fiancée dropped him off around 9 a.m. on Saturday ... (click for more)

1 Person Unaccounted For In Early Morning House Fire On Wilcox Boulevard

One person is unaccounted for in a house fire that occurred Sunday morning. The Chattanooga Fire Department has been battling a second alarm house fire on Wilcox Boulevard with possible entrapment. A passerby called it in at 4:42 a.m. and reported seeing flames coming from the home in the 3400 block, located near the intersection of Wilcox Boulevard and Tunnel Boulevard. ... (click for more)

Opinion

The Courts' Role In Protecting Voting Rights

Nov. 3, Election Day, is right around the corner. Of course, voting is fundamental to elections. It is through voting we both give our consent to those we entrust to govern us and hold those governing us accountable. From our right to vote come many of our rights and freedoms. Every day seems to bring new stories about disputes over voting, many of which are pursued through lawsuits. ... (click for more)

Roy Exum: Trump’s $455 Billion Call

Late last fall, there was a story that got a lot of mileage and for good reason. Donald Trump’s economic trade policy of America First signaled that our President had the guts to say “enough is enough” to The Marshall Plan, which by all rights should have been discontinued about 50 years ago but was not. It enabled the countries we were eager to help following World War II to continue ... (click for more)

Sports

No. 2 Alabama Routs Tennessee At Home, 48-17

Tennessee got a pair of touchdown passes from senior quarterback Jarrett Guarantano and a career-best day from freshman wide receiver Jalin Hyatt , but it wasn't enough for the Vols to keep pace in a 48-17 setback to No. 2 Alabama at Neyland Stadium on Saturday. Guarantano, who had scoring passes of 38 yards to Hyatt and 27 yards to senior wide receiver Josh Palmer , finished ... (click for more)

Zeca Ends Career In CFC 1-0 Loss To Maryland Bobcats

For but a moment, it looked as if Zeca’s footballing skill would produce one last highlight in a career full of them. Standing with his back to the goal and down 1-0 to the Maryland Bobcats, the Chattanooga Football Club’s captain located the ball, flipped backwards, and took a bicycle kick. A storybook ending was being written in front of the Finley Stadium crowd who could not ... (click for more)