Money Talks: Income Tax Phaseout

The Mississippi House approved a bill last month to phase out the personal income tax, reduce the grocery tax and increase the state sales tax on most items. What do you think? We’ll learn about the measure with our guest Dr. Brian Pugh, Executive Director for the Stennis Center for Public Service author of the book “Chaos and Compromise: The Evolution of the Mississippi Budgeting Process”.

https://stennis.gov/about-us/stennis-center-staff/dr-brian-pugh-biography/

House Bill 531- phasing out the personal state income tax - The Mississippi Tax Freedom Act of 2022  http://billstatus.ls.state.ms.us/2022/pdf/history/HB/HB0531.xml

News reports:

https://www.clarionledger.com/story/news/politics/2022/01/12/philip-gunns-plan-cut-mississippi-income-taxes-ready-vote/9176793002/

https://www.supertalk.fm/mississippi-house-of-representatives-votes-to-eliminate-income-tax/

https://www.natlawreview.com/article/mississippi-house-revisits-income-tax-phase-out-2022

https://www.usnews.com/news/best-states/mississippi/articles/2022-01-11/mississippi-house-panel-oks-bill-to-phase-out-income-tax

https://www.mpbonline.org/blogs/news/mississippi-house-of-representatives-pass-bills-on-income-tax-and-teacher-pay/

Calls:

• How does it affect low income earners
• Revenue stream and budget shortfall
• What percentage is revenue stream
• Pro Income Tax elimination
• Attracting new residents
• Grocery Tax

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