Democratic lawmakers in Tennessee have introduced a new policy that could affect wallets around the state.
The End the Grocery Tax by Closing Corporate Loopholes Act (SB 2511/HB 2007), proposed by Sen. Charlane Oliver and Rep. Aftyn Behn, seeks to eliminate Tennessee’s 4% sales tax on groceries, which is among the highest in the nation, in an effort to alleviate financial stressors for residence during a time when groceries are often more expensive than ever.
The legislation would address a potential budget deficit from the act by closing corporate tax loopholes and instituting a corporate minimum tax…