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Governor Makes Income Tax Proposal

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Governor Makes Income Tax Proposal



16 WAPT’S KEEGAN FOXX TAKES A LOOK ATHT E NUMBERS. GOVERNOR TATE REEVES ROLLING OUT WHAT HE CALLS A BOLD PROPOSAL THAT WOULD EVENTUALLY FULLY ELIMINATE INCOME TAX IN THE STATE – AND HE SAYS WOULD ULTIMATELY PUT MORE MOY NE IN PEOPLE’S POCKETS. <WHAT I WANT EVERYBODY IN MISSISSIPPI TO DO IS GET YOUR PAY STUB, OR YO UR AUTOMATIC DEPOSIT OR HOWEVER YOU GET PAID ON A MONTHLY BASIS OR A BI- MONTHLY BASIS, OR A WEEKLY BASIS AND PULL UP AND SEE HOW MUCH THAT WITHHOLDG INIS.> THE GOVERNOR SAID UNDER HIS PLAN – MISSISSIPPIANS WOULD GET A 30-PERCENT RE DUCTION OF WHATEVER HOLDING TAX IS TAKEN OUT OF YOUR PAY CHECK. IT’S AN EIGHT-YEAR- PROPOSAL THAT WORKS LIKE THIS: THE STATE WOULD CREATE A 3-POINT-5 PERCENT FLAT TAX IN THE FIRST YEAR OF THE PLAN – WHICH HE SAYS WOULD RESULT IN A TAX CUT OVER FIVE- HUNDRED-MILLION- DOLLARS NEXT YEAR. REEVES’ PLAN THEN CALLS FOR REDUCING THE TAX RATE BY HALF A PERCENTAGE POINT A YEAR FOR SEVEN YEARS – WCH HI THE GOVERNOR SAYS WILL RESULT IN THE COMPLETE ELIMINATION OF THE INCOME TAX. THURSDAY’S PROPOSAL COMING JUST A DAY AFTER HOUSE SPEAKER PHILIP GUNN PROPOSED A PLAN THAT WOULD PHASE OUT PERSONAL INCOME TAX OVER THE NEXT 18 YEARS – CUTTING OUT ONE- HUNDRED-MILLION- DOLLS EACH YEA R. <I KNOW PEOPLE HEAR THAT NUMBER $100 MILLION AND THINK THAT’S A LOT OF MONEY AND IT’S A LOT OF MONEY TO BE RETURNED TO THE RETURN TO THE TAXPAYERS. BUT ON A PROSPECTIVE BASIS THAT IS ONE AND A HALF PERCENT OF OUR BUDGET ON A DOLLAR THAT’S A PENNY AND A HALF.> THE SENATE H AASLSO MADE AN INCOME TAX PROPOSAL. IT WOULD SUSPEND STA TE GAS TAX FOR SIX MONTHS – CUT THE GROCERY TAX FROM 7% TO 5% AND GIVE TAXPAYERS A ONE- THOUSAND-DOLLAR REBATE THIS YEA R. <I AM FOR ELIMINATING THE INCOME TAX. THAT WILL HA VE TREMENDOUS ECONOMIC POWE R> THERE ARE JUST THREE D

Governor Makes Income Tax Proposal

Governor Reeves reveals his own income tax proposal.

Governor Reeves reveals his own income tax proposal.



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