House passes tax reform plan, bill heads to Senate
JACKSON, Miss. (WLBT) - The income tax in Mississippi is one step closer to being eliminated after the House passed the bill Wednesday.
House Bill 531, sponsored by Speaker Philip Gunn, would reduce the grocery tax from 7% to 4% over six years, beginning this July.
It would also reduce the sales tax on groceries.
It now heads to the full Senate, but it will likely be referred to a Senate committee. The full Senate isn’t expected to vote on the bill until it comes out of the committee.
Republican Lt. Gov. Delbert Hosemann says he wants some sort of tax reduction, but he has not said if he supports the House plan.
Advocates of the bill, Empower Mississippi, said the bill would give families access to more money.
“Our research, which included dynamic modeling by a Ph.D. at Rice University, shows the potential of profoundly positive effects for all Mississippians associated with eliminating the income tax,” Empower President Russ Latino said. “People will have more money to invest in their families, businesses, and communities and Mississippi will be a more attractive place to move.”
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