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Mississippi Senate OKs tax cut bill, fate in House unclear

The Mississippi Senate has voted to phase out the corporate franchise tax, reduce the individual income tax and give a tax break to people who are self-employed.

Republican Lt. Gov. Tate Reeves, who is pushing the plan, says it will spur economic growth.

Critics say the plan would eventually reduce state revenue by 10 percent in a state where a school funding plan has been underfunded for years.

Senate Bill 2858 (http://bit.ly/1QI7AdY ) passed Thursday with 38 votes in favor and 10 against. It will move to the House for more work, and its prospects there are unclear.

State revenues have fallen short of expectations this year, and Republican Gov. Phil Bryant has already ordered midyear budget cuts. The state also faces federal-court takeover of its underfunded foster-care system.


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