House Panel Changes Senate Bill Involving Tax Cuts

Jackson, Miss.
The Mississippi House Ways and Means Committee has gutted a Senate bill that would have phased in nearly $600 million in corporate and individual income tax cuts over 15 years.

The new House version would eliminate the 3-percent state individual income tax bracket, on income from $8,300 to $13,300, in 2017, at a cost of $134 million to state coffers.

But Committee Chairman Jeff Smith, R-Columbus, in an interview with The Clarion-Ledger after Monday’s committee meeting, indicated that cut is not likely to survive the House, either.

WTOK
4/4/16