Posts Tagged ‘legislation’
Beacon CEO Justin Owen on the withdrawal of the Hall Income Tax repeal bill:
“We are deeply disappointed that we could not provide needed tax relief to Tennessee’s seniors and job creators by repealing the Hall Income Tax. But it is important to note that this bill died purely based on perception due to unexpectedly poor revenue news delivered during the course of the debate. There is strong support among Tennesseans for repealing this tax, and the economic benefits a repeal would provide are indisputable. We will not back down until this immoral and economically destructive tax is off the books and Tennessee becomes truly income tax free once and for all.”April 17th, 2014 | Recent News
This recent Forbes column exposes Tennessee’s income tax secret and notes Beacon’s success in telling the stories of those impacted by the Hall Income Tax.
…But, more importantly, tax policy affects real families and their ability to build a sustainable life. This report, published by The Beacon Center, gives real-life examples of how this little-known tax hurts retirees who have selected Tennessee because of it “no-income-tax” claims. The truth is that the Hall Tax penalizes seniors by creating unexpected retirement expenses. For one middle-class couple who has retired to Tennessee and primarily lives off the income of their hard-earned savings and investments, the Hall Tax came as a surprise. They now are finding themselves with the difficult decision of uprooting to a “true” no-income-tax state, such as Florida.
The report also tells the story of a successful Tennessee entrepreneur, Nickolas Holland, who would like to cease collecting a salary from one business while he spends time growing his second business. His choice would be to draw income from his shares of stock from his more stable first company. His plans have been thwarted by the heavy penalty of the Hall Tax.
Tennessee has done much to create an environment that is attractive to, and supportive of, its workers, business owners and retirees. In fact, my own home state of Missouri could learn much from our neighbor to the east. Volunteer State leaders should seriously consider putting an end to this “hidden” tax that penalizes seniors and job-creators and prevents future investors.
Read the entire article here.April 4th, 2014 | Recent News
NASHVILLE – The Tennessee Federation for Children (TFC), the state affiliate of the American Federation for Children, today applauds the passage of SB 196 the “Tennessee Choice & Opportunity Scholarship Act,” from the Senate Education Committee. The Beacon Center of Tennessee joins with TFC, thanking the Governor, Lt. Governor, Speaker of the House, and legislative leaders from both chambers for moving Tennessee one step closer to empowering parents with additional educational options for their children.
“Tennessee’s future success will be measured by the quality of the education that is provided to its students,” stated Betsy DeVos, chairman of the American Federation for Children. “We applaud the bipartisan members of the Senate Education Committee for voting in favor of this bill and helping to break down barriers to educational choice for Tennessee parents and students. I also want to recognize and thank Gov. Bill Haslam for his leadership and commitment to enacting transformational education reform.”
The Senate bill passed out of committee with bipartisan support on an eight to one vote. The legislation will now move to the Senate Finance Committee.
The legislation proposes an opportunity scholarship program that will allow students trapped in failing schools to receive educational funds to attend any non-public school of their choice. Educational choice empowers parents to give their children who are trapped in underperforming schools new hope and new quality educational options.
In recent years, other states around the country and surrounding Tennessee have adopted educational choice programs. Currently, 39 school choice programs exist in 18 states, Washington D.C., and Douglas County, Colorado.
Education across the nation is being revolutionized by educational freedom – giving parents more ability to send their children to a school of their choice.
“Tennessee families should be proud that their elected representatives—from the governor to legislators—are standing up in support of their educational freedom,” said Beacon Center CEO Justin Owen. “We look forward to continuing this important dialogue and helping to offer meaningful educational options for families across our state.”
The Tennessee Federation for Children (TFC) is the state affiliate of the American Federation For Children, the nation’s leading school choice advocacy organization and works in states across the country to help secure additional, high-quality educational options for families. TFC has been formed to educate parents and families about the importance of educational choice and advocate for passage of a high-quality, statewide educational choice bill.
The Beacon Center of Tennessee is the state’s leading free market public policy organization. The Center’s mission is to change lives by advancing the principles of free markets, individual liberty, and limited government.
###March 26th, 2014 | Recent News