HJR 17
FISCAL NOTE
Fiscal Review Committee
Tennessee General Assembly
February 13, 2025
Fiscal Analyst: Elizabeth Bransford | Email: elizabeth.bransford@capitol.tn.gov | Phone: 615-741-2564
HJR 17
SUMMARY OF BILL: Urges Congress to enact the Fair Tax Act of 2023, eliminating the
federal personal income tax, the alternative minimum tax, the inheritance tax, the gift tax, the capital
gains tax, the corporate income tax, the self-employment tax, and the employee and employer
payroll tax and replaces them with a national retail sales tax.
FISCAL IMPACT:
NOT SIGNIFICANT
Assumptions:
• Urging Congress to enact legislation eliminating various federal taxes and replacing them
with a national retail sales tax will not have a significant impact on the operations of state or
local government.
• Any increase in state expenditures to transmit copies of the resolution to the appropriate
individuals is estimated to be not significant.
CERTIFICATION:
The information contained herein is true and correct to the best of my knowledge.
Bojan Savic, Executive Director