Tennessee House, Senate Republicans at odds over state budget

NASHVILLE - Tennessee's Republican-dominated House and Senate are headed in different directions on the state's coronavirus-ravaged state budget, with the House spending plan including a $100 million sales tax holiday.

The House plan also calls for accelerating $1.5 billion in cuts to have them occur over just two years while senators' $39.4 billion Fiscal Year 2020-2021 budget approved last week with Republican Gov. Bill Lee's support instead spreads the cuts out over a three-year period.

Another big difference: Senators approved a plan to complete the final phase-out of the Hall Income Tax on stock dividends and bond interest at an annual cost of $48 million. Their House counterparts keep the Hall Tax at its current 1% for five years.