Sexton: State Budget Includes Tax Relief For All Tennesseans

House Speaker Cameron Sexton said he believes the Senate and House has passed a good budget with over $300 million in tax relief.

Sexton said that includes $80 million for a sales tax holiday on groceries for all of August, as well as, $121 million to waive vehicle tag renewal costs over the next year.

“We have excess revenue right now,” Sexton said. “Our economy is thriving, and so we have the capability of returning tax payer’s money back to Tennesseans, and we were trying to find different ways that’s in the broadest sense that we could.”

The overall $22.9 billion dollar budget still needs to be signed by Governor Bill Lee before adoption. Sexton said he assumes the spending plan will be on Lee’s desk early next week.

“We think that’s a way that every Tennessean can get some tax relief during these good economic times,” Sexton said.

Sexton said broadband and agriculture tax relief is also included. $68 million for sales tax reduction on broadband supplies and about $3 million to reduce sales tax on agricultural machinery.

As for the overall session, Sexton said about 4 dozen bills remain for the General Assembly to consider. Sexton said he thinks the session will come to a close at the end of next week.