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Tax Cut Up to $550 Million in Senate, Gov. Says His Bill is Aimed More at Cuts for Families

JACKSON, Miss.–It seems like several people in the state government want to make sure your taxes are cut, at least to some degree, over the next few years. A plan now by Lt. Gov. Tate Reeves would tack on an extra $150 million in cuts, bringing his total plan to $550 million in cuts.

The Reeves plan includes cutting corporate taxes, phasing out the corporate franchise tax. It also includes about $304 million in income tax cuts.

A plan by the Mississippi House would eliminate the state income tax over several years, in phases, as long as the state economy grows by three percent each year.

Gov. Bryant also has a tax cut proposal, which he says is more modest and is aimed at working families. He said Tuesday that he hops lawmakers will reach a compromise in the next couple of weeks before the legislature goes home for the year.

“I think you’ll look at both of those measures going to conference and I hope at the end of the day that we’ll get something that comes to my desk,” said Bryant. “Mine was more of a lower to middle class tax cut. I think those blue collar folks, like I grew up, need a tax cut as much as anybody in this state.”

Bryant said he wants to see a responsible plan come out of a compromise between all parties.

“As we look at revenues coming in I think one of the responsible things we have to do is to make sure that we balance it with a balanced budget.”

Not everyone is down with a tax cut. Brian Eason, who said he is a children’s rights advocate, was protesting at the capitol Tuesday, his protest complete with a drum on Mississippi Musicians Day.

“We’ve got to make sure that we fund education the right way to ensure our children’s’ future,” he said.

STORY ON TAX CUT PROTEST

Eason believes instead of a tax cut, the revenue to should go to education.

“Mississippi has been ranking last, 50th in education, for years. When are we gonna be tired of being 50th in education?”

He may get his wish. Bryant acknowledged the possibility that all sides may hold firm and come up with no tax cuts.

“It wouldn’t be the first time that’s happened,” he said. “There’s always next year.”

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