State Rep. Clark Boyd (Cannon, DeKalb and Wilson Counties) is working with other colleagues in the State House of Representatives on legislation that provides additional tax cuts for Tennesseans.

These cuts include legislation designed to create a Food Tax Holiday for 2020 across the state through House Bill 1697. This initiative would exempt the retail sale of food and food ingredients from a 4 percent sales tax for the months of June and July. However, local taxes - up to 2.75 percent - would still be collected by cities and counties. Rep. Boyd explained because most students are out of school in June and July, this will help families better provide food for their children during summer months, especially those who rely on free and reduced lunches throughout the school year.

General Assembly members are also considering reductions in the corporate tax, which currently sits at 6.5 percent -- one of the highest rates in the entire southeast region. This tax penalizes businesses by taxing their net earnings. By reducing it, additional revenue should allow our businesses to reinvest and potentially expand operations, which could create new jobs.

Legislation to advance recent progress made eliminating the professional privilege tax is also being considered for the 2020 legislative session. Legislation last year slashed $22 million worth of tax on accountants, architects, athletic agents, audiologists, chiropractors, dentists, engineers, landscape architects, optometrists, pharmacists, podiatrists, psychologists, real estate brokers, speech pathologists, and veterinarians.

Tennessee is the lowest tax and lowest debt state in the entire country.