Posts Tagged ‘income tax’
Senate adopts their own tax relief proposal
A month after the Mississippi House advanced a plan to eliminate the income tax, the Mississippi Senate has passed a smaller package of tax cuts. Senate Bill 3164, which cleared the Senate today, will phase out the 4 percent tax bracket, lower grocery taxes to 5 percent, offer a $3.50-$5 break on car tags, and…
Read MoreAnother path to income tax repeal
In the classic children’s story of Goldilocks and the Three Bears, the title character finds herself in a situation of testing three bowls of porridge, three chairs, and three beds to find the one that works for her. One bowl of porridge is too hot, one too cold. One chair is too big, one chair is…
Read MoreYes, we can afford to eliminate the income tax
The number one question we receive about proposals to eliminate the income tax is whether the state can afford to do so. What people generally mean when they ask that question is whether the tax could be eliminated in such a way as to not negatively impact core functions of government. As I hope to…
Read MoreEmpower releases new video as part of income tax elimination campaign
Empower Mississippi released a new video that is running on social media in support of income tax repeal proposals moving in the legislature. Under House Bill 531, the mechanism for repeal begins by raising the personal exemptions to $37,700 for single workers and $75,400 for married workers. The remainder of the income tax elimination would…
Read MoreTalking House and Senate tax proposals
Empower President Russ Latino recently provided an in-depth look at the tax proposals from the House and Senate, and what each plan would mean for Mississippians on SuperTalk. “Do we believe that people need relief? I would argue that there is clear evidence that they do. Do we believe that the money people earned belongs…
Read MoreComparing House and Senate tax proposals
For the last year or so, the state of Mississippi has been abuzz with the idea of eliminating the income tax. Gov. Tate Reeves has named it a top priority. The Mississippi House of Representatives has twice passed a proposal to do so and we have explained and evaluated the impact of the most recent…
Read MoreReeves reiterates call for income tax elimination
Gov. Tate Reeves called for a bold vision in his push for elimination of the income tax during his annual State of the State address tonight. “We also need to consider how to attract those companies and economic projects that transform communities—create generational wealth and lift families out of poverty,” Reeves said. “This does not…
Read MoreHow would income tax repeal impact you?
The Mississippi House of Representatives has adopted legislation designed to eliminate the state’s income tax. How does it work? In year one of the plan, the exemption available to income tax filers would go up to $37,700 for single filers and $75,400 for married filers. This means that for most Mississippi workers, the income tax…
Read MoreLeading Conservative and Business Organizations Call for Income Tax Elimination
As lawmakers consider proposals to eliminate Mississippi’s income tax, nine conservative and business organizations penned a letter to Gov. Tate Reeves, Lt. Gov. Delbert Hosemann, Speaker Philip Gunn, and members of the legislature in support. “Empower is proud to join with leading national and state conservative and small business organizations in calling for the elimination…
Read MoreTeachers would benefit from income tax elimination
On the morning after the Mississippi House of Representatives passed both a landmark income tax elimination and a landmark teacher pay raise, I rolled out of bed, picked up my phone, and was confronted by an ad from a special interest group that purports to represent parents with kids in public schools. This ad suggested…
Read MoreIncome tax elimination would benefit Mississippi seniors
Mississippi seniors have a good thing going. Income tax elimination would benefit the overwhelming majority of seniors even more—yes, even income tax elimination that involves partial offsets of the tax cut with sales tax. Here’s how. Mississippi routinely rates as one of the most friendly states for retirees for two primary reasons. First, Mississippi has…
Read MorePopulation movement tells us a story
While most of the South experienced large population gains last year, Mississippi continues to be on the wrong side of population changes. According to new Census data from July 1, 2020 through July 1, 2021, a net of 4,246 Mississippians moved to other states. When we factor in natural causes (births and deaths), that loss…
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