The Senate Finance, Ways and Means Committee’s Appropriation Subcommittee will be conducting a hearing in Chattanooga to review the financial impact on the state from Volkswagen’s violation of U.S. emissions standards.
The meeting will be held at the Hamilton County Department of Education, 3074 Hickory Valley Road, on Thursday, Oct. 29, from 1:30-3:30 p.m.
Members of the Appropriations Subcommittee are Senate Finance, Ways and Means 1st Vice-Chairman Bo Watson (R-Hixson), who serves as chairman of the Subcommittee, Senator Reginald Tate (D-Memphis), Senate Majority Leader Mark Norris (R-Collierville) and Senate Finance, Ways and Means Committee Chairman Randy McNally (R-Oak Ridge).
He is due to meet with the media afterward to discuss the issue.
Volkswagen's stock has plummeted and it faces huge costs and fines for the fiasco that is expected to result in a recall of 11 million vehicles. A number of lawsuits have also already been filed against VW over the issue.
State legislators are especially concerned over the company's future because of the hundreds of millions of incentives provided by the state, city and county to get Volkswagen to build a plant at the Enterprise South Industrial Park.