Why Tennessees grocery tax holiday is unlikely this year [Video]

NASHVILLE, Tenn. (WKRN) — Tennessee isn’t planning on bringing back its food tax holiday from the last few years.

“Two years ago, we had really good growth in our revenue. We had two months, I believe, of sales tax holiday on groceries,” Dept. of Finance & Administration Commissioner Jim Bryson said. “Last year, we had even more revenue, I think we did three months of sales tax relief on groceries. This year, our revenue is flat.”

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But where is some of that flattening of revenue coming from?

“I think it’s an economic factor, it’s really mostly in franchise and excise tax, which is known to be a very volatile tax,” Dept. of Revenue Commissioner David Gerregano said. “It sort of has a trajectory, but year to year, it can vary quite a bit.”

But this year, Gov. Bill Lee (R-Tennessee) is looking to substantially or entirely cut the franchise taxand …