Wednesday, March 23, 2022

Speaker Modifies Tax Cut Proposal

 Speaker of the House Philip Gunn issued the following statement. 

Today after continued negotiations with the Senate, the House presented a conference report trying once more to bring the Senate on board to give the taxpayers of Mississippi significant tax relief by giving them back some of their hard-earned money. Our proposal is straightforward – cut $100 million from the personal income tax every year until the personal income tax is eliminated.

The conference report would halt the tax cuts after six years. The legislature would then have to remove that provision for the cuts to continue. After those six years, the tax cut will be $600 Million. That’s 1/3 of the way to completely eliminating the personal income tax. It would require the legislature to reauthorize the continuation of the cut after six years. They would then have to remove that provision for the cuts to continue. After those six years, the tax cut will be $600 Million, which is 1/3 of the way to the total elimination of the personal income tax.

We will push to continue those cuts after year six. We will make our case for giving the taxpayers back their money, and the Senate can make the case that they should be allowed to spend it. It’s that simple, and we welcome that debate.

The Revenue Estimating Group says we’ll have $7 Billion in FY23 revenue. The $100 million per year tax cut is less than 1.5% of that. We ask the Senate to give the taxpayers back only 1.5 cents of every dollar we collect. Surely, we can give taxpayers back 1.5 pennies – it’s their money.

There is no reason for Lieutenant Governor Hosemann not to allow Senators to vote on this conference report. We will collect $7 Billion and have only budgeted for $6.2 Billion. After our $100 Million cut, that will leave $700 Million per year to spend – more than enough to satisfy even the Senate’s big-spending appetite.

 

22 comments:

Anonymous said...

"The conference report would halt the tax cuts after six years. The legislature would then have to remove that provision for the cuts to continue. After those six years, the tax cut will be $600 Million. That’s 1/3 of the way to completely eliminating the personal income tax. It would require the legislature to reauthorize the continuation of the cut after six years. They would then have to remove that provision for the cuts to continue. After those six years, the tax cut will be $600 Million, which is 1/3 of the way to the total elimination of the personal income tax."

Redundant much?

Anonymous said...

Somebody blinked.

Anonymous said...

House of Idiots!

I hear the foundation is cracking over there. The rank and file don’t want to go home without any projects and are not happy.

The next speaker, whoever it may be, should be careful over the next few days.

Anonymous said...

6:19, it's called compromising. Unfortunately, in the political scorched earth of today, compromising is an endangered species.

Bill Dees said...

I smell desperation.

Anonymous said...

Gunn is a clown and has always been since his days of trying to stop high percentage alcohol beer sales and microbreweries. I am glad everyone is finally seeing him for what he is.

Kingfish said...

Haven't looked at the numbers but will the House tax cut eliminate a third of state tax revenue?

Anonymous said...

815, yes, it is call compromising, which in my opinion is a good thing. Others might call those that 'compromise' RINOs but I digress.

The problem with this compromise is that the cuts start on the lower income groups, which is probably appropriate.

But, the problem is that once it gets to year six, the cuts then begin to cut the taxes of what some in government, and the media, call the rich. Granted, it is not the rich - it is more appropriately called the middle class, but the media and the democrats in the legislature get lost on that demographic.

After the first cut goes into effect, getting a bill passed in the legislature to cut the taxes of "the rich" - those that remain having to pay MS income taxes - wont happen. Same problem as the original House bill with their 'triggers' that would eventually cut the top rates ------ after triggers.

Hate to say it, but cutting income taxes at the top and the bottom at the same time, working one's way toward the middle, is the only map that will lead to the final yellow brick road of finally elimanating the income tax in Mississippi. Philip doesn't want to concede that this process is the best route to get there because it would give Tater a win and him a loss. But - if he really wants to do what's best for the state (and not for him politically) that is the route he would take.

Aint gonna happen - he can't concede the win to his arch rival arross the street. Shame, proves Gunn is nothing but a politician, despite his decades of work to claim a difference ----- up until 2019.

Anonymous said...

8:15
Agreed , isn’t that supposed to happen?

PT Barnum said...

This can-kicking nonsense ranks right up there with Biden's proclamations that will realize an effect after the passage of sixteen years.

Gunn has pissed in his whiskey and Hoseman is carrying it out into the alley in a boot with a hole in it.

Sadly, there are two tents in this circus that came to town in January. If there were only two ringmasters, it wouldn't be so bad. I forget the total number in the house and senate...but, count the clowns.

From The Spider-Hole said...

Good post 9:59.

Methinks Gunn, this morning, is quoting Sadam's famous last words..."Shit, I've been discovered!"

Anonymous said...

Imagine with me, if you will, a scenario where the elected leader of the House of Representatives and the elected leader of the Senate are verbally attacking one another in the public sphere, holding important legislation hostage for personal political agendas, and behaving as if they are preschool children on a playground ..... while TATE REEVES sits idly by, laughing at them, and appearing to be the sensible adult. What bizarro world are we living in?

Anonymous said...

Delbert Hosemann is a Democrat.

Anonymous said...

Why I oughta, If my property taxes go up over this i'm going to be pissed.... Hell I stay pissed..

Anonymous said...

Gunn knows we are about to see a full collapse of the USD/Petrodollar and complete loss of food security. We are about to all be living off social credits and USDA rations. He is giving everyone a chance to buy some lentils and extra tuna cans to make it through the coming collapse.

Anonymous said...

Reality. Our governments nationwide now only function dishonestly. It's so bad that pure honesty would end us. See the problem ? One that can't be fixed. It's over.

Anonymous said...

Somebody finally got it through Gunn's thick skull that the people of Mississippi were a little sharper than gave them credit for and realized his plan was a recipe for disaster. He's a two bit political extremist hack and shouldn't be in his position.

Anonymous said...

So many Gunn haters are convinced the status quo works despite all evidence to the contrary.

Anonymous said...

6:19, it's called compromising. Unfortunately, in the political scorched earth of today, compromising is an endangered species.

It's the Mississippi political way

That's why we are now under one-party rule (the MSGOP)

Anonymous said...

While Gunn is on the conservative side of wanting to eliminate the income tax don't let him fool you into thinking he is a conservative. Conservatives don't want the State in the business of running alcohol sales, preventing freedom by not allowing a person to ship wine to their doorsteps, preventing the ability of a person to open a business by demonstrating a "need" for that business and on and on.

Anonymous said...

Both Gunn and Tate are only interested in the headline for their legacy.

Those calling Delbert a Democrat are wrong. He's reasonable and logical, which is rare these days. That's why you don't recognize it!

Anonymous said...

"It's the Mississippi political way. That's why we are now under one-party rule (the MSGOP). March 24, 2022 at 10:08 AM"

'One Party Rule'? How old are you? Remember those hundred-plus years we were under democrat rule? It didn't end until Barbour defeated Musgrove, only nineteen years ago.

Here's a factoid for you, since you seem to be confused: Mississippi has had 64 governors. 50 of them, along with legislative leadership, have been democrat.


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