Despite what he said in the speech, Bryant has voiced support for eliminating the franchise tax in the past, and spokesman Clay Chandler said he would sign a bill cutting it.
“The governor favors tax relief for the hard-working people of this state but is not opposed to a scheduled franchise tax reduction,” Chandler said.
Lt. Gov. Tate Reeves said he sees no conflict with Bryant’s goals. In addition to cutting franchise taxes, Reeves last year proposed eliminating the 3 percent and 4 percent personal income tax brackets, which would have phased in income tax cuts of up to $350 a year for individuals making at least $18,300 a year.
“My view is, it doesn’t have to be an either-or scenario. It could be both-and,” Reeves said Wednesday.
Reeves has said lawmakers should lock in long-term tax cuts this year, even though Mississippi has a shortfall that will make it harder for lawmakers to write a spending plan for the budget year beginning July 1. That could mean no immediate tax cuts, though, a possibility Bryant alluded to in the State of the State.
“It may not be this year, but when we are having surpluses and a full savings account, let’s pledge to give the people back a portion of their hard-earned tax dollars,” Bryant said.