Speaker of the Mississippi House of Representatives, Jason White, issued the following statement.
Today, the Mississippi House of Representatives took a transformative positive step by passing House Bill 1, the Build Up Mississippi Act, with bipartisan support. This crucial legislation paves the way for a brighter economic future for our state, delivering a comprehensive tax reform package designed to uplift Mississippians, support our infrastructure and PERS system, and empower local governments.
By phasing out the state income tax and significantly reducing sales tax on groceries, we alleviate the financial strain on Mississippians and create an environment ripe for robust economic growth. Under HB 1, every municipality will receive more funding under the local option, 1.5% sales tax, than the current diversion. With Build Up Mississippi’s proposed consumption-based model, Mississippi will maintain a lower sales tax and remain more competitive than our surrounding states. The bill also revises exemptions for motor fuel sales to include a retail fuel sales tax of 5%; this modest sales tax aims to enhance revenue for the Maintenance and Capacity Projects Fund at MDOT. HB 1 is not a “tax swap” but a strategic move to attract economic development opportunities, stimulate local governments to address critical infrastructure needs, and foster real tax relief, ultimately benefiting every resident in our great state and finally eliminating the personal income tax.
Moreover, $100 million of revenue from lottery proceeds will be redirected towards our commitment to a stable
retirement plan for our state employees which showcases our unwavering determination to build a stronger
Mississippi. The remaining lottery proceeds will be allocated for the Education Enhancement Fund and Multi-
Modal Transportation: our state’s ports, harbors, airports, rails, and transit system. By prioritizing essential
services and safeguarding the PERS system, we are investing in the long-term well-being of our communities and
reinforcing confidence in our state’s economic stability.
With the passage of HB 1 in the House, we have taken a monumental step towards enacting the largest tax cut
in Mississippi's history. This is a powerful message that we prioritize the quality of life for all our citizens while
laying the groundwork for a thriving economy that will uplift generations to come. As the #1 priority in the House,
we are thankful for the overwhelming support we have received from cities, county officials, statewide elected
officials, and the Mississippi business community. I urge the Senate to now take a close look at HB 1 and be open
to collaboration to bring sweeping tax reform to our great state. Together, we can Build Up Mississippi where
everyone can prosper.
13 comments:
Smoke and mirrors, or is this a shell game? There is no mention of the fact that retirees would be paying more taxes as this is in fact a "tax swap" scheme.
Okay, Delbert, the ball is in your court. The prospect of your becoming governor will, in large measure, depend on how you navigate this tax cut legislation. What will you do? It seems as though the political winds of fortune have aligned and you will likely have to compromise. There's no shame in supporting what seems to be a popular piece of legislation. Why not just acknowledge that the House has done a good job? Why not give them credit? Is the bone stuck in your throat because Tate supports it?
My unsolicited advice, D-Man: horse trade with Jason. Tax cut or school choice? Your pick, Jason.
"Significantly reduce sales tax on groceries" By how much ?
"HB 1 is not a "tax swap'"
That's the biggest pile of bovine excrement on the whole internet.
If the state was serious about being small government they would cut the number of counties in half. Half the administrations, half the school districts, half the sheriff offices, half the government buildings needed, and half the courts. The number of counties we have with our population numbers is mind numbingly stupid.
I'm a retiree. My taxes will go down.
@9:57 - I'm a retiree (and a conservative Republican for what that's worth) and my taxes will go up - significantly.
Yes, if you are a rich retiree, your taxes may go down. But this tax swap (just as was former Speaker Philip Gunn's) is a tax cut for the rich, and a tax increase for middle class and poor.
Raising the sales tax by 1.5% will give us one of the highest sales tax rates in the country. Refusing to raise the gas tax, because that was grossly unpopular, is made a sham by adding a sales tax to the price of gas --- and also to the 37 cents of excise taxes on gas, so now we are taxing the taxes.
Yes, I'm sure this is popular with many of the House member's financial supporters (just look at who all is lining up touting this swap) but in the end most Mississippians will be facing a tax increase with this plan, both this year AND ten years from now when the income tax is done away with.
Every day, Idiocracy is less a joke and more real life. I just can't wrap my head around our fool legislators... Fix the roads, make education cheaper, legalize weed, and tax the devil out of alcohol.
... and a conservative Republican for what that's worth ...
An argumentative fallacy. Not worth a hill of beans.
...in the end most Mississippians will be facing a tax increase with this plan ...
Proof? Link?
The only thing that is happening with HB1 is the deck being is being reshuffled
and the middle class will be squeezed just like they always have been.
Write that down!
Unless I missed it, they didn’t eliminate the current tax on gasoline, they added a 5%tax on the sale. If that’s the case then @$2.50 a gallon that’s an extra 12.5 cents per gallon. Please correct me if I’m wrong.
@1:28 - we all known this. That’s the whole republican playbook. Voters will get what they voted for, more taxes on everyone except the top 0.1%. Hopefully those tax breaks will trickle down to us normal folks in the form of extra gardening and chauffeur jobs.
Come on people. I know this is Mississippi but anyone should know moving taxes around does not mean taxes are going down.
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