GOVERNOR HASLAM SIGNS GASOLINE TAX INCREASE INTO LAW
Gov. Bill Haslam signed off on his IMPROVE Act Wednesday making his gasoline tax increase into law. The 6 cent hike will start off with 4 cents on July 1 and then will increase 2 additional cents over the next two years. The money raised from the additional taxes will be used to fund road and bridge projects in all 95 Tennessee counties. It’s the first such increase since 1989. To help offset the cost, the bill will lower the price on groceries by 20 percent. It will also provide property tax relief for the elderly and veterans.