Mississippi House passes state income tax bill
MEMPHIS, Tenn. — Mississippi House lawmakers have passed a bill that would phase out the state's income tax while adjusting other taxes.
House Bill 1, also known as the 'Build Up Mississippi Act', would 'phase out the state income tax on the taxable income of individuals.'
The bill, authored by Representative Trey Lamar, was transferred to the Senate in January and amended earlier this week. The House voted 92 to 27 to agree with the Senate's amendments on Thursday.
Mississippi Governor Tate Reeves celebrated the move.
'Congratulations to the Mississippi legislature on passing historic tax reform and ELIMINATING THE INCOME TAX!' Reeves posted to Facebook. 'What a great day for Mississippi taxpayers.'
While Reeves says he can't wait to receive the bill, the bill's ultimate fate is uncertain as a motion to reconsider was also entered on Thursday.
Reeves acknowledged that there are lawmakers who 'desire future tweaks to this law.' Reeves says that changes can be considered in future legislation.
In addition to phasing out the income tax, House Bill 1 would reduce the sales tax rate on groceries and 'revise the sales tax exemption' on gas.
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