Mississippi governor signs bill eliminating state income tax
- Governor Tate Reeves signed House Bill 1 into law on March 27, which eliminates the state income tax by 2030, potentially affecting future growth and spending strategies.
- The law reduces the grocery sales tax from 7% to 5%, starting July 1, benefiting consumers.
- It increases the gas tax incrementally from 18 cents to 27 cents by 2027, as part of the state's revenue adjustments.
- The law reduces the individual income tax from 4.70% to 3% over time and may discontinue entirely with favorable economic conditions.
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Mississippi Gov. Tate Reeves Signs Legislation to Move Towards Eliminating Income Tax
Mississippi Gov. Tate Reeves (R) signed a bill into law on Thursday that would move towards eliminating the state's income tax and explained that the state would "no longer tax the work, the earnings, or the ambition of its people." The post Mississippi Gov. Tate Reeves Signs Legislation to Move Towards Eliminating Income Tax appeared first on Breitbart.
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Leaning Left4Leaning Right17Center4Last UpdatedBias Distribution68% Right
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R 68%
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