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VOL. 128 | NO. 68 | Monday, April 8, 2013

House Unanimously Approves Food Tax Reduction

AP

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NASHVILLE (AP) – The state House has unanimously approved Gov. Bill Haslam's proposal to cut the state's sales tax on groceries.

If approved by the Senate, the state's tax on groceries would drop by a quarter percentage point to 5 percent. Lawmakers last year enacted a cut of the same amount.

The state's sales tax on non-food items is 7 percent.

The tax reduction is projected to cost the state about $23 million in state revenue – or an average annual tax savings of about $3.56 for each Tennessean.

The companion bill is awaiting a vote in the Senate Finance Committee but is not expected to find much opposition.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 84 122 20,754
MORTGAGES 113 158 23,903
FORECLOSURE NOTICES 7 31 3,078
BUILDING PERMITS 128 315 42,909
BANKRUPTCIES 53 110 13,290
BUSINESS LICENSES 12 35 6,657
UTILITY CONNECTIONS 22 52 7,841
MARRIAGE LICENSES 18 45 4,688