JACKSON — Speaker Philip Gunn and other House Republicans are lauding their plan to eliminate Mississippi’s personal income tax.
The House Ways and Means Committee voted 15-7 Tuesday to advance House Bill 1629, moving it to the full House where it will need a 60 percent majority to advance.
Gunn, of Clinton, says the plan would cut $1.38 billion in taxes in steps through 2028, pausing in any year when state revenue didn’t grow by 3 percent.
The proposal could shift the debate away from proposals to cut business taxes. Lt. Gov. Tate Reeves proposed a $382 million tax cut earlier, including phasing out the $242 million franchise tax.
Opponents warn that the plan could starve state agencies of needed revenue and leave the state’s tax system more regressive than now.
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