Gov. Bill Haslam’s signature IMPROVE Act, enacting Tennessee’s first fuel tax in nearly three decades, emerged triumphant from the House and Senate floors after a combined five-plus hours of discussion and debate.
The legislation seeks to raise the gas tax by 6 cents and the diesel tax by 10 cents over a three-year period. The extra revenue will be used to whittle away at the state’s $10 billion backlog of transportation projects. Also attached to the bill is a tax cut on grocery purchases and an alteration to the state’s corporate tax policy.
The bill won in the House by a 60-37 vote and the Senate by a 25-6 vote.
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