US EditionNo state has ended personal income taxes since 1980, but Mississippi and Kentucky may change that
- Mississippi and Kentucky are considering eliminating their state income taxes, joining a recent tax-cutting trend.
- States experienced surging revenues after the COVID-19 pandemic, prompting aggressive tax cut proposals.
- Mississippi's law reduces the income tax rate gradually to 3% by 2030, dependent on revenue benchmarks.
- Governor Reeves stated that the tax repeal puts Mississippi in a class of elite, competitive states.
- Analysts warn that income tax repeal could make states too reliant on sales taxes, disproportionately affecting the poor.
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2 States Poised To Be First Since 1980 To Eliminate Income Tax
2 States Poised To Be First Since 1980 To Eliminate Income Tax Via Headline USA, About 45 years have passed since a U.S. state last eliminated its income tax on wages and salaries. But with recent actions in Mississippi and Kentucky, two states now are on a path to do so, if their economies keep growing. The push to zero out the income tax is perhaps the most aggressive example of a tax-cutting trend that swept across states as they rebounded fr…
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Total News Sources92
Leaning Left21Leaning Right13Center43Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 27%
C 56%
R 17%
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