The Mississippi House of Representatives took two crucial this week. Both votes were taken within 24 hours of the bills being introduced and quickly rushed through committee Tuesday evening. The Mississippi Tax Freedom Act of 2022 (294 pages long) was the first bill up for a vote and passed with 97 yes votes (primarily Republicans) and 25 representatives voting no, present, or absent. This bill is a marketed improvement from the bill introduced last year and does utilize an economic growth formula to reduce the state’s personal income tax in the long term, but still has issues that should be worked out before the final passage, including a sales tax increase from the now 7 percent general sales tax to 8.5 percent sales tax. The Mississippi Freedom Caucus (MFC) members supported this bill with a unanimous decision among its members, in order to keep the bill alive so that amendments and changes can be made along the way to continue to strengthen the bill and provide a pay raise for all Mississippians through a reduction in the overall tax burden of the state.
From Your Capitol - January 15, 2022
From Your Capitol - January 15, 2022
From Your Capitol - January 15, 2022
The Mississippi House of Representatives took two crucial this week. Both votes were taken within 24 hours of the bills being introduced and quickly rushed through committee Tuesday evening. The Mississippi Tax Freedom Act of 2022 (294 pages long) was the first bill up for a vote and passed with 97 yes votes (primarily Republicans) and 25 representatives voting no, present, or absent. This bill is a marketed improvement from the bill introduced last year and does utilize an economic growth formula to reduce the state’s personal income tax in the long term, but still has issues that should be worked out before the final passage, including a sales tax increase from the now 7 percent general sales tax to 8.5 percent sales tax. The Mississippi Freedom Caucus (MFC) members supported this bill with a unanimous decision among its members, in order to keep the bill alive so that amendments and changes can be made along the way to continue to strengthen the bill and provide a pay raise for all Mississippians through a reduction in the overall tax burden of the state.