Tennessee governor supports Hall, estate taxes - WMC Action News 5 - Memphis, Tennessee

Tennessee governor supports Hall, estate taxes

Gov. Bill Haslam says he doesn't plan to eliminate Tennessee's estate tax and Hall income tax despite efforts by several Republican lawmakers to kill the measures. Gov. Bill Haslam says he doesn't plan to eliminate Tennessee's estate tax and Hall income tax despite efforts by several Republican lawmakers to kill the measures.

(AP) - Gov. Bill Haslam says he doesn't plan to eliminate Tennessee's estate tax and Hall income tax despite efforts by several Republican lawmakers to kill the measures.

The Republican governor told The Associated Press in an interview that both taxes are bad for the long term because they "chase capital away from the state."

However, he says Tennessee is still in tough economic times and he doesn't have a way to replace that revenue.

The state collected $172 million from the Hall income tax last year.

Republican Senate Caucus Chairman Bill Ketron of Murfreesboro has said he would like to eliminate both taxes. He told the AP on Friday that from an economic development standpoint they are holding the state back.

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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