On FOX, Mississippi taxpayers will earn substantial relief through the progressive abolition of the state’s income tax.
The Republican government signed the law on Thursday evening, signing a law that would lower that tax from 4.7% to zero over the next few years, including a decline to 3% by 2030 and ultimately to zero.
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Mississippi Republican governor candidate Tate Reeves is standing with President Donald Trump at the great American campaign rally held at the Bancorp Suit Arena in Tupelo, Mississippi on November 1, 2019.
“We are proud to sign the law to completely eliminate Mississippi’s individual income tax,” Reeves said in a statement.
“Let me say it again. Mississippi no longer taxes jobs, incomes, or the ambitions of those people. The law I am signing today places us in a rare competitive state of elites.
Legislative supporters believe it will help boost the state’s economic development. Only individual income taxes in Tennessee, Florida, South Dakota, New Hampshire, Florida, Nevada, Wyoming, Alaska and Washington do not charge personal income tax.
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Items used to prepare taxes. (Kurt “Cyberguy” Knutsson)
“This is more than a policy victory. It’s a change, and it’s a change I’ve believed in, fought and worked on over the years,” the governor said.
“From now on, as our kids are raising their own families in a stronger and more prosperous state of Mississippi, they’ll look back at this moment and say, ‘This is when we took a shot.’ For Mississippi people, you are the real winner of today. ”
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The residence of the Mississippi Governor in Jackson, Mississippi, October 1971 (UPI/Bettmann Archive/Getty Images)
The state legislature disagrees about how to best approach tax policy, and the typo, according to Clarion Ledger, thought it was a happy accident by advocates. The outlet reports that some Democrats are opposed to the law, citing potential concerns about the impact on the public sector.
This new policy is due to major tax changes being proposed at the federal level. The 2017 Tax Cuts and Employment Act expired this year, and President Donald Trump has pledged to extend it. He also hopes to make a promise to abolish federal income taxes on wages and overtime salaries that have abolished federal income taxes.
Cameron Arcand is a political writer for Fox News Digital at Washington DC.
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