MEMPHIS, Tenn. — Thursday, Governor Bill Lee signed the Tennessee Works Tax Act into law– the single largest tax cut in state history.

The act will provide more than $400 million in tax relief for Tennessee families and small businesses. It also includes a three-month grocery tax suspension beginning August 1.

In a statement, Gov. Lee said, “Tennessee’s legacy of responsible fiscal stewardship has allowed our state to weather national economic storms while maintaining a balanced budget and cutting taxes for Tennesseans.”

Lee will be partnering with the General Assembly and thanked them for the opportunity. “We thank them for partnering with us to make the right investments for Tennessee families and businesses while supporting our state’s future economic growth and success.”

For more information about the act, click here.