Press conference held to talk about income tax

Mississippi Speaker of the House Philip Gunn held a press conference in Jackson to talk about the House’s revised income tax elimination plan.

He says there are no tax increases in the new bill.

The House made changes in the income tax elimination bill, raising the trigger from 1.5 to 1.6

This means any year over year growth in revenues, the first 1.6 percent of that goes back into the budget.

A new measure was also added to the bill saying no more than $150 million will be used in any one year to eliminate the income tax, capping the amount of money phased out on the income tax. “The proposal we brought forward yesterday does not cut as much as previous proposals. The new bill attempts to exempt only the first 25,000 of dollars per tax payer, 50,000 dollars for married couples. Not the 40,000, 80,000 dollar proposal that was contained in a previous bill. We believe an agreement can be reached with the Senate on this issue if we simply devote ourselves to discussing it. We stand ready to meet with the Senate and get this issue resolved.”

Gunn called on Governor Tate Reeves to endorse the plan and to call for its passage.