Government
9:20 am
Thu March 22, 2012

Bill seeks to repeal Tenn. Estate tax

A proposal to repeal Tennessee's estate tax is advancing in the state House.  The measure passed the House Finance Subcommittee Wednesday. The companion bill is awaiting a vote in the Senate’s finance committee.  Under the proposal, the tax - also called the "death tax" - would be gradually phased out over the next four years.  Republican House Speaker Beth Harwell says the proposal is beneficial because the tax, in her words, "drives people, capital and jobs out of the state."