NASHVILLE, Tenn. (AP) -- Gov. Bill Haslam's more than $31 billion spending proposal is headed for a vote on the Senate floor.
Members of the Senate Finance Committee approved the plan 10-0 Tuesday night. It's expected to be voted on Wednesday.
The plan seeks to phase out Tennessee's inheritance tax and lower the state's sales tax on groceries.
The inheritance tax currently applies to estates worth more than $1 million, and was paid by 845 estates in the last budget year. Haslam's plan would bump that exemption up to $1.25 million next year and to $5 million by 2016.
The sales tax on food would be cut from 5.5 percent to 5.25 percent.
The proposal also calls for raises for state employees and more spending on construction on college campuses.
Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
Most Popular Stories
SF cabbie chokes, robs passenger who didn't leave tip
Morris the cat runs for mayor of Mexican city
Bear with head stuck in jar is rescued in Pa.
Officials: Woman approaches kids with chain saw
Deputy to Gov. Haslam Claude Ramsey stepping down
Obama: 'Lives have been saved' by NSA programs
Obama renews calls for nuclear reductions
Senator: IRS to pay $70M in employee bonuses
Senators seek cost cuts for F-35 fighter jet
WVLT VOLUNTEER TV
6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Gray Television, Inc. - Copyright © 2002-2013 - Designed by Gray Digital Media - Powered by Clickability
User Agent: CCBot/2.0 - 148840535
