The Mississippi House passed a bill to eliminate the state income tax, phasing it out over ten years. The legislation, which includes a new gas tax and grocery tax cuts, passed with a bipartisan vote of 88-24. It now heads to the Senate for further consideration.
A bill that phases out the state income tax, cuts the state grocery tax and raises sales taxes and gasoline taxes passed the House of Representatives with a bipartisan vote on Thursday. House Bill 1 — authored by Republican Rep. Trey Lamar of Senatobia and other House leaders – passed 88-24 with only Democratic House members voting against it. It now goes to the Senate for consideration.
The legislation would reduce the income tax rate from 4% to 3% next year. Then, it would reduce the rate by .3% each additional year until the tax is eliminated in 10 years. The plan would add a 1.5% sales tax for local governments, unless they opt out, increasing the state’s net sales tax from 7% to 8.5%.
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