Mississippi Governor Signs Flawed Tax Overhaul: Typos Eliminate Income Tax Early
Governor Tate Reeves signed a bill eliminating Mississippi’s income tax over 14 years, making it the first state to do so. The legislation, passed due to unnoticed typos nullifying intended economic growth safeguards, also lowers the grocery sales tax and raises the gasoline tax to fund infrastructure improvements. While proponents argue this will stimulate economic growth and attract new residents, critics express concern over a significant budget shortfall, potential cuts to essential services, and increased tax burdens on lower-income residents. The bill’s long-term economic effects remain uncertain, with differing opinions among local officials and experts.
John Q. Hosedrinker