Mississippi tax cut bills stall despite GOP leaders’ push
1 year, 10 months ago

Mississippi tax cut bills stall despite GOP leaders’ push

Associated Press  

— Tax relief proposals favored by Mississippi Gov. But a group of lawmakers is concerned about passing another income tax cut ahead of November’s legislative elections, Lamar said. “Coming off the heels of last year’s income tax bill, and this being an election year, there are a few that would just prefer to wait a little longer before making further cuts.” During the 2022 session, legislators enacted a plan to reduce the state income tax over four years — Mississippi’s largest tax cut ever. We have four years to implement the tax cut we already have.” Lamar said reviving the elements of the income tax cut bill through language in another piece of legislation is a possibility. Opponents have said reducing the income tax would mean less money for schools, health care, roads and other services, especially as Mississippi grapples with the ongoing threat of hospital closures.

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Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it
1 month ago

Louisiana lawmakers pass income and corporate tax cuts, raising statewide sales tax to pay for it

Associated Press  

— Louisiana’s GOP-dominated legislature passed tax cuts on personal and corporate income on Friday in exchange for a statewide sales tax increase, giving Gov. Lawmakers also redirected $280 million in vehicle sales tax funds from several major infrastructure projects for the next two years in order to help offset the income tax cut. Corporate tax cuts The state’s new corporate …

Louisiana lawmakers advance Gov. Jeff Landry’s tax cut bills
1 month, 2 weeks ago

Louisiana lawmakers advance Gov. Jeff Landry’s tax cut bills

Associated Press  

— Louisiana lawmakers advanced bills to flatten the state’s income tax rate and repeal the corporate franchise tax in a special legislative session focused on a sweeping tax reform package championed by Republican Gov. The legislative fiscal office’s former chief economist Greg Albrecht described the proposed income tax plan as “modestly progressive” compared to the existing tax code in a …

Mississippi’s Republican governor pushes income-tax cut, says critics rely on ‘myths’
2 months, 4 weeks ago

Mississippi’s Republican governor pushes income-tax cut, says critics rely on ‘myths’

Associated Press  

Tate Reeves said Tuesday that legislators should ignore “myths” from opponents who want to block efforts by him and some other Republican leaders to phase out the state’s income tax. Mississippi collected almost one-third of its general fund revenue from the individual income tax during the budget year that ended June 30, 2023, according to the state Department of Revenue. …

Mississippi House panel starts study that could lead to tax cuts
3 months, 2 weeks ago

Mississippi House panel starts study that could lead to tax cuts

Associated Press  

— Mississippi lawmakers could consider a comprehensive proposal next year to make the state’s tax system fairer and more efficient, a state House leader said Wednesday. “Eliminating the tax on work in the state of Mississippi is our goal — and how we can do that responsibly and in as quick a time as we can.” Lamar and Republican Rep. …

West Virginia’s personal income tax to drop by 4% next year, Gov. Justice says
4 months, 1 week ago

West Virginia’s personal income tax to drop by 4% next year, Gov. Justice says

Associated Press  

CHARLESTON, W.Va. — West Virginians will see their personal income taxes drop by 4% in the new year, Gov. Justice has stressed that he wants to see the personal income tax eliminated to promote economic growth in one of the nation’s poorest states, and he has tried repeatedly to persuade state lawmakers to cut the tax completely. “We all know, …

Arkansas lawmakers advance tax-cut bills and try to stave off shutdown of hunting, fishing agency
6 months ago

Arkansas lawmakers advance tax-cut bills and try to stave off shutdown of hunting, fishing agency

Associated Press  

— Arkansas lawmakers on Monday advanced income and property tax cuts and a compromise proposal to avoid a shutdown of the state’s hunting and fishing programs. If approved, the income tax cuts would be third signed by Sanders, who has called for phasing out the income tax since she took office last year. Lawmakers had expected to take up tax …

Arkansas governor calls for special session on tax cuts and funds for hunting and fishing agency
6 months, 1 week ago

Arkansas governor calls for special session on tax cuts and funds for hunting and fishing agency

Associated Press  

Sarah Huckabee Sanders on Tuesday called a special legislative session to take up tax cuts and the budget for the agency overseeing hunting and fishing. The Republican governor said in a post on X that she’s calling for $500 million in income and $50 million in property tax cuts during the special session, scheduled to begin next week on Monday. …

Tennessee Senate advances nearly $2 billion business tax cut, refund to prevent lawsuit
9 months ago

Tennessee Senate advances nearly $2 billion business tax cut, refund to prevent lawsuit

Associated Press  

NASHVILLE, Tenn. — The Tennessee Senate on Thursday approved a nearly $2 billion tax and refund for businesses, a proposal designed to prevent threats of a potential lawsuit even as critics warned the so-called solution was rushed without being properly vetted and shrouded in mystery. Starting last fall, Republican legislative leaders say a law firm representing a large group of …

Mississippi Republican governor again calls for phasing out personal income tax in his budget plan
10 months, 3 weeks ago

Mississippi Republican governor again calls for phasing out personal income tax in his budget plan

Associated Press  

Tate Reeves is renewing his call for legislators to phase out the state’s personal income tax over several years, and he is asking them to spend more money on economic development, highways and the judiciary. “Rather, it requires that our government lives within its means.” The expansion of Capitol Police is mandated in a law enacted last year over objections …

Mississippi governor rejects revenue estimate, fearing it would erode support for income tax cut
1 year, 1 month ago

Mississippi governor rejects revenue estimate, fearing it would erode support for income tax cut

Associated Press  

Tate Reeves refused to approve top lawmakers’ proposed revenue estimate Wednesday, fearing a lower projection than he wanted would prevent him from justifying future income tax cuts. The rare move comes as Reeves pushes for a revenue estimate that would shore up political support for a future income tax cut. Reeves later said he would agree to the revenue estimate …

Republicans tout conservative credentials in lieutenant governor primary
1 year, 6 months ago

Republicans tout conservative credentials in lieutenant governor primary

Associated Press  

— Mississippi Lt. Gov. Delbert Hosemann and state Sen. Chris McDaniel, the fellow Republican trying to unseat him in a primary challenge, each sought to burnish their conservative credentials in speeches at the Mississippi Press Association convention on Friday. We are going to be competitive on every front, and I think we have laid the predicate for this.” McDaniel, as …

Minnesota Legislature adjourns after passing $72B budget; Democrats celebrate as GOP hits tax hikes
1 year, 7 months ago

Minnesota Legislature adjourns after passing $72B budget; Democrats celebrate as GOP hits tax hikes

Associated Press  

ST. PAUL, Minn. — The Minnesota Legislature put the final touches on a $72 billion state budget and adjourned for the year Monday night as Democrats celebrated enacting an ambitious agenda that ranged from protecting abortion rights, to providing more resources for education, to legalizing marijuana. The big tax bill of the session, which cleared its final test Sunday evening, …

Arkansas lawmakers approve $124 million income tax cut plan
1 year, 8 months ago

Arkansas lawmakers approve $124 million income tax cut plan

Associated Press  

— Arkansas lawmakers on Wednesday approved a plan by Republican Gov. Sarah Huckabee Sanders and legislative leaders to cut individual and corporate income taxes by $124 million a year. The bill, which now heads to Sanders’ desk, also cuts the top corporate income tax rate to 5.1% from 5.3%. “The more we cut income taxes, the heavier the burden to …

Mississippi session: Yes to moms’ Medicaid, no to tax cuts
1 year, 8 months ago

Mississippi session: Yes to moms’ Medicaid, no to tax cuts

Associated Press  

— During the three-month session that ended early Saturday, Mississippi lawmakers guaranteed a year of Medicaid coverage for women after birth but ignored broader Medicaid expansion for working people whose jobs don’t provide health insurance. Here’s a look other issues: TAXES: Republican House Speaker Philip Gunn isn’t seeking reelection this year, and one of his main goals was to phase …

Arkansas Gov. Sanders, lawmakers call for $124M tax cut plan
1 year, 8 months ago

Arkansas Gov. Sanders, lawmakers call for $124M tax cut plan

Associated Press  

Sarah Huckabee Sanders and legislative leaders on Thursday called for cutting income taxes by $124 million as they near the end of this year’s legislative session. The tax cut proposal calls for cutting the state’s top individual income tax rate from 4.9% to 4.7% starting this year. “Arkansans will feel this tax relief immediately, and I don’t think it could …

Vos wants ‘significantly’ more than $3 billion in tax cuts
2 years ago

Vos wants ‘significantly’ more than $3 billion in tax cuts

Associated Press  

MADISON, Wis. — Wisconsin Assembly Speaker Robin Vos said Friday he wants to cut taxes by “significantly” more than $3.4 billion in the next state budget, while remaining coy about how he wants to address major issues such as funding for schools and local governments. One possibility they’ve discussed is using 1% of the state sales tax to replace shared …

Mississippi Gov. to push for full elimination of income tax
2 years, 1 month ago

Mississippi Gov. to push for full elimination of income tax

Associated Press  

JACKSON, Miss — Mississippi Gov. “This session I hope that’s not the case.” Mississippi’s Republican-controlled legislature passed legislation in 2022 that will eliminate the state’s 4% income tax bracket starting in 2023. Republican House speaker Philip Gunn has said full elimination of the state income tax is “achievable,” though he hasn’t committed to doing so in the 2023 session. We …

Missouri lawmakers pass bill to cut income taxes
2 years, 2 months ago

Missouri lawmakers pass bill to cut income taxes

Associated Press  

— Missouri lawmakers on Thursday gave final approval to an income tax cut that Gov. The Republican-led Missouri House voted 98-32 in favor of the bill, which would cut income taxes from 5.3% to 4.95% beginning next year and phase in additional cuts until the rate hits 4.5%. The roughly $1 billion measure also eliminates the lowest tax bracket, meaning …

States tapping historic surpluses for tax cuts and rebates
2 years, 3 months ago

States tapping historic surpluses for tax cuts and rebates

Associated Press  

— Stoked by the largest surplus in state history, Missouri’s Republican-led Legislature devised a $500 million plan to send one-time tax refunds to millions of households. “Now is the time for the largest income tax cut in our state’s history,” Parson declared as he called lawmakers back for a September special session to consider a $700 million permanent tax reduction. …

Gov. Parson calls for special session to pass income tax cut
2 years, 4 months ago

Gov. Parson calls for special session to pass income tax cut

Associated Press  

Mike Parson on Monday called on lawmakers to return to work Sept. 6 for a special legislative session to cut income taxes. Parson specified that, based on the limits in his special session call, lawmakers cannot cut income taxes so deeply that the state loses more than $700 million per year in revenue. House Democratic Minority Leader Crystal Quade called …

Arkansas lawmakers taking up tax cuts in special session
2 years, 4 months ago

Arkansas lawmakers taking up tax cuts in special session

Associated Press  

— Arkansas lawmakers are meeting this week for a special session on tax cuts and school safety grants that’s been spurred by the state sitting on a $1.6 billion surplus. Asa Hutchinson and other Republicans are backing that would accelerate individual and corporate income tax cuts lawmakers approved last year. Hutchinson and GOP leaders have said they’re not worried about …

Georgia tax cut could hit $2 billion, but maybe not by 2029
2 years, 7 months ago

Georgia tax cut could hit $2 billion, but maybe not by 2029

Associated Press  

BONAIRE, Ga. — A major state income tax cut signed by Republican Georgia Gov. For his part, Perdue espouses gradually abolishing the entire state income tax, which contributes nearly half of Georgia’s $30 billion in revenue. A GBPI analysis using modeling by the Institute on Taxation and Economic Policy shows 39% of benefits would flow to the top 5% of …

Mississippi governor signs state’s largest income tax cut
2 years, 8 months ago

Mississippi governor signs state’s largest income tax cut

Associated Press  

— Mississippi residents will pay lower income taxes in coming years as the state enacts its largest-ever tax cut. Supporters say a significant tax cut could spur economic growth and attract new residents to Mississippi, which was one of three states that lost population during the decade before the 2020 census. Opponents say reducing the income tax would mean less …

Mississippi lawmakers aim to finish budget and end session
2 years, 8 months ago

Mississippi lawmakers aim to finish budget and end session

Associated Press  

— Mississippi legislators are returning to the Capitol on Monday with hopes of finishing their 2022 session. Tate Reeves said Friday that he intends to sign a bill that will authorize Mississippi’s largest-ever tax cut. “It’s a major tax cut that heads us in the direction of eliminating the income tax,” Reeves told reporters Friday at the Capitol. “Literally every …

Mississippi lawmakers pass largest-ever state income tax cut
2 years, 8 months ago

Mississippi lawmakers pass largest-ever state income tax cut

Associated Press  

— Mississippi, one of the poorest states in the nation with perpetually underfunded schools and struggling rural hospitals, had its largest-ever tax cut passed by lawmakers Sunday. The Republican-controlled state House and Senate voted by wide margins to pass a bill that would reduce the state income tax over four years, beginning in 2023. Opponents say reducing the income tax …

Top Mississippi lawmakers reach deal on income tax cut
2 years, 8 months ago

Top Mississippi lawmakers reach deal on income tax cut

Associated Press  

— Mississippi House and Senate leaders reached a deal Saturday to reduce the state income tax over four years, saying it would be the largest tax cut in the state’s history. Senate Finance Committee Chairman Josh Harkins, a Republican from Brandon, said the tax cut would reduce state revenue by $185 million the first year. “The goal is elimination of …

Mississippi gov says he’s ‘married’ to income tax phaseout
2 years, 8 months ago

Mississippi gov says he’s ‘married’ to income tax phaseout

Associated Press  

Tate Reeves insisted Thursday that legislators pass a bill to phase out the state income tax, but other Republicans who lead the House and Senate remained far apart on the issue. He said Thursday that he wants the state to reduce the top income tax rate from 5% to 3.5% next January, then phase out the rest of the income …

SC Senate unanimously passes income tax cut and rebate
2 years, 9 months ago

SC Senate unanimously passes income tax cut and rebate

Associated Press  

COLUMBIA, S.C. — The South Carolina Senate unanimously passed a $2 billion income tax cut and rebate bill, setting up what will likely be intense negotiations with the House over the $1 billion tax cut it passed last month. The proposal would send a rebate of at least $100 to everyone who files an income tax return in South Carolina, …

Every SC taxpayer gets at least $100 rebate in Senate bill
2 years, 9 months ago

Every SC taxpayer gets at least $100 rebate in Senate bill

Associated Press  

COLUMBIA, S.C. — Everybody who files an income tax return in South Carolina — even the more than 1 million people who pay no state income tax — would get a rebate check of at least $100 in a bill being considered by the state Senate. They make up about half of a $2 billion package that would also cut …

Minnesota Senate GOP unveils massive $8.5B tax cut proposal
2 years, 9 months ago

Minnesota Senate GOP unveils massive $8.5B tax cut proposal

Associated Press  

ST. PAUL, Minn. — Minnesota Senate Republicans on Thursday announced a tax cut proposal that would cost more than $8.5 billion over the next three years, which they say would make it the largest in the state’s history. It would use up roughly $3.5 billion of the state’s $7.7 billion projected surplus in the current and cut into the next …

Mississippi Senate advances 1 tax cut plan; another awaits
2 years, 10 months ago

Mississippi Senate advances 1 tax cut plan; another awaits

Associated Press  

— The Republican-controlled Mississippi Senate voted 40-11 Wednesday to pass a bill that would cut hundreds of millions of dollars in state revenue by phasing out part of the income tax and reducing the sales tax on groceries. Legislatures in several states are considering tax cuts this year, including South Carolina, where a bill to reduce the income tax received …

Income-tax phaseout up for debate in long-poor Mississippi
2 years, 10 months ago

Income-tax phaseout up for debate in long-poor Mississippi

Associated Press  

— Mississippi is accustomed to being first in worsts: It’s one of the poorest, unhealthiest states in the nation, with public schools that are chronically underfunded. Opponents say erasing the income tax is a terrible idea because it would mean even less money for schools, health care, roads and other services, especially hurting poor and working-class residents. “The notion that …

Mississippi Senate unveils proposal to reduce some taxes
2 years, 10 months ago

Mississippi Senate unveils proposal to reduce some taxes

Associated Press  

— Mississippi Senate leaders unveiled a tax cut proposal Tuesday that they described as a sustainable way to reduce what people pay to the government while maintaining enough money to pay for schools and other services. The plan would reduce the income tax, but it would not eliminate that tax as House leaders are proposing. The Senate plan also would …

Mississippi House takes 1st step to approve tax cut plan
2 years, 11 months ago

Mississippi House takes 1st step to approve tax cut plan

Associated Press  

— Mississippi would phase out its income tax, reduce the sales tax on groceries and set a higher sales tax rate on many other items, under a bill that advanced Wednesday through the state House. “The bill this year is much simpler, easier to understand, and I would say to you an improved product over the bill that passed overwhelmingly …

Arkansas lawmakers OK massive tax cuts, adjourn session
3 years ago

Arkansas lawmakers OK massive tax cuts, adjourn session

Associated Press  

— Arkansas lawmakers on Thursday approved the largest tax cut in state history, adjourning a special session without taking up an abortion ban modeled after Texas’ or other measures some Republican lawmakers hoped to add to the agenda. For an individual who happens to be paying a small portion of taxes, percentage-wise they’re getting a larger cut in their taxes.” …

Arkansas governor delays plans for session on tax cuts
3 years, 2 months ago

Arkansas governor delays plans for session on tax cuts

Associated Press  

Asa Hutchinson on Tuesday backed off plans to call the Legislature back to the Capitol next week to take up income tax cuts as he continued negotiating with lawmakers on how much to reduce. The Republican governor delayed the special session he expected to call for the income tax cut proposal, which he said would cost the state $321 million …

Treasury says state tax cuts OK if separated from virus aid
3 years, 9 months ago

Treasury says state tax cuts OK if separated from virus aid

Associated Press  

— Responding to concerns from state officials, the U.S. Treasury Department said Wednesday that states can cut taxes without penalty under a new federal pandemic relief law — so long as they use their own funds to offset those cuts. Republican attorneys general from 21 other states wrote to Treasury Secretary Janet Yellen seeking clarification on the prohibition, which they …

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