JACKSON – State Sen. David Blount called the $415 million tax cut pending Gov. Phil Bryant’s signature “the most consequential” legislation of the 2016 session that will have a generational impact on the state.
The tax cut, the bulk of which will go to the state’s business community, will remove between 7 and 8 percent of the total state general fund revenue over the next 11 years.
Supporters of the legislation say it will spur economic development and result in more state revenue.
But Blount, D-Jackson, questioned whether that will occur Monday during a speech at the Mississippi State University Sennis Institute of Government/capitol press corps luncheon.