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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 This material may not be published, broadcast, rewritten or redistributed.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 92 229 4,100
MORTGAGES 94 225 4,615
FORECLOSURE NOTICES 0 19 700
BUILDING PERMITS 170 538 9,806
BANKRUPTCIES 53 163 3,048
BUSINESS LICENSES 40 113 2,004
UTILITY CONNECTIONS 0 66 1,190
MARRIAGE LICENSES 15 55 769