?What Works in Mississippi? is series that will highlight current issues faced by working Mississippians and the good work being done to address those challenges. Our first subject is the Women?s Foundation of Mississippi, a grant making and advocacy organization dedicated to improving the lives of the state's women and...
The tax cut proposal defeated during the legislative session would have placed necessary investments at risk without improving the state's economic competitiveness.
If the economy grows, the income tax cut will become more expensive in absolute terms -- as will the cost of education, infrastructure, and other public services.
The Legislature's tax cut proposals would require spending reductions for key services like education, infrastructure, mental health, and public safety.
Eliminating the individual income tax would mean either a massive erosion of resources for education and other priorities or a tax shift from wealthy Mississippians to working families who are struggling to make ends meet.
If the Legislature phases out the state's second-largest revenue source, future budgets will be forced to slash essential investments or raise taxes and fees on low- and middle-income families.
Forbes ranked Mississippi the worst state for business because of a poorly-educated workforce and substandard quality of life factors. Durable investments are needed, not more corporate tax cuts.
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