Earlier this week, top lawmakers touted the results of a recent U.S. Chamber of Commerce study that says Tennessee is a leading Enterprise State for its remarkable environment of low taxes and navigable regulations.
The Chamber report, available here, notes Tennessees low cost of living, fourth lowest state and local tax burden and manageable budget gap place it first in this years tax and regulation ranking. The State moved up two places from last years ranking.
The report also cites the business-friendly Legislature and the fact the Commissioner of Economic and Community Development and the Commissioner of Revenue work together to ensure there is a no surprise regulatory environment in Tennessee. Additionally, in profiling the State, the Chamber highlights Governor Bill Haslams Jobs4TN initiative that utilizes existing economic development assets to identify and prioritize growth-ready industry clusters, establish nine regional -jobs base camps and reduce regulations that get in the way of business and job growth.
House Speaker Beth Harwell, House Majority Leader Gerald McCormick, and House Majority Caucus Chairwoman Debra Maggart believe Tennesseans can expect a continued focus on sound fiscal policy and common sense reforms to regulations in the new legislative session.
Speaker Harwell stated, We are proud Tennessee has, once again, been recognized as a top State for businesses and families. I look forward to a successful session that will further Tennessees unmatched record of accomplishment by keeping taxes low and further reducing the States regulatory burden.
Tennessee is on solid barting when it comes to tax and regulatory policy. That said, I believe we can do more. Thanks to the leadership of Governor Haslam, we have a guiding vision for transforming Tennessee into a truly competitive State that will be an engine for growth in the coming years, stated McCormick.
Maggart added, This session will be a model for future legislative sessions. We are focused on how to best pave the way for job creation in the private sector, removing government barriers to business growth, and maintaining our States low tax reputation. Tennesseans expect government to serve them and their priorities and we are going to do just that.