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Friday, May 3, 2024

Governor Reeves proposes to eliminate state income tax

Credit: WXXV
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Governor Reeves proposes to eliminate state income tax
Governor Reeves proposes to eliminate state income tax

Mississippi Governor Tate Reeves says he’s releasing information about his state budget proposals for the year that begins July 1st.

Their property.- - mississippi gov.

Tate reeves- says he's releasing information- about his state budget proposal- for the year that - begins july 1.- he says his ideas include the - possible elimination of - the state income tax.

- legislators often ignore budget- proposals from- any governor.

Reeves could face- bigger challenges than- usual because of uncertainty- caused by the coronavirus - pandemic.

- the individual income tax is on- of the largest sources of - mississippi tax collections.- the state collected about $5.8- billion from all sources- during the year that ended june- 30.

- about $1.8 billion of that came- from the individual income- tax.- - "we need to take that bold move to- capitalize on the growth of - possibilities of the uncertaint- of 2020.

This would save- almost 2,000 dollars for the- person who has taxable income o- - - - 40,000 dollars a year.

That - 2,000 dollar could then be spen- in our economy.

This should be- the starting- - - - point for any tax discussion in- the future or any tax discussio- in the- legislature in the coming years- let's cut taxes , not raise the- and lets- eliminate the income tax, which- is one, huge speed bump to long- term economic - - - - growth in recovery for- mississippi."

Reeves also announced additiona- counties that - have qualified to be under mask- mandates under his "safe recovery" executive order that is in effect through- december 11th.- the following counties are: - hinds, madison, pontotoc, tate,- winston, itawamba, and- montgomery counties.

As of- now, 22 of mississippi's 82 - counties are included

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