$400M Tax Cut Passed By Tennessee House of Representatives – A Necessary Move For Competitiveness!

The Tennessee House of Representatives passed a bill that will tax reduction for businesses.

In the Tennessee House of Representatives new bill, businesses will be able to claim refunds. (Photo: Tennessee Lookout)

Tennessee House of Representatives Recently Passed Bill

The Tennessee House of Representatives recently approved a bill that will lead to the biggest business tax reduction in the state’s history. The bill links franchise and excise taxes to a company’s net worth.

The Tennessee House of Representatives new bill will allow businesses to claim a refund or rebate on those taxes. Despite some resistance against the Tennessee House of Representatives, the bill is seen as necessary to keep Tennessee competitive for business recruitment.

According to a published article by SmartNews, critics of the Tennessee House of Representatives’ newest bill argue that refunding taxes already paid could result in significant losses for the state, and raise concerns about privacy issues for business owners.

Police Officer Recruits

In a published article by WKRN News, the battle for police officer recruits in Middle Tennessee and Southern Kentucky continues, with the City of Franklin investing millions in pay adjustments.

Other employers have also increased pay to be competitive, with Bowling Green, Kentucky offering a starting salary of $60,000. Despite starting at $50,000, Franklin leads in paying experienced officers.

The Lebanon Police Department pays just over $45,000 but is still gaining officers due to Tennessee’s population growth. Increased pay not only helps with recruiting and retention but also shows appreciation for officers. Recruits often discuss resources and community outreach in addition to pay.

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