Mississippi is bringing back a “competitive” edge with Gov. Tate Reeves’ (R) signing of legislation to phase out the state income tax, and he discussed what this means for the state during an appearance on Breitbart News Saturday.
“So this is House Bill 1 that I signed into law on Thursday afternoon. And honestly, Matt, it’s really what I have called Mississippi’s one big, beautiful bill, and it is a bill that does a couple of different things,” Reeves began, explaining that it reduces the sales tax on groceries across the state and, over a period of time, eliminates the state income tax.
Reeves pointed out that there are nine states in America that have no income tax.
“So there are 41 states that have an income tax. Of the 41 that have one, we currently have the fifth lowest. But fifth lowest isn’t good enough for us. We want to move all the way down to zero,” he said, stating that they are phasing out their brackets over the next ten years “or so, and depending on how revenues come in.”
“And so we’re extremely excited about it. We believe it puts us in a competitive advantage,” Reeves said.
The governor said this is essential to bring back a competitive edge, especially considering that Mississippi is surrounded by states with no state income tax.
“Obviously, Mississippi is located between Texas to our west and Florida to our east and Tennessee immediately to our north, all three of which have no income tax. And because of that, they have a bit of a competitive advantage against us when we’re trying to recruit business and industry to our state, as well as when we’re trying to recruit more people to our state — more workers to our state,” he said. “So we think this is a huge opportunity for us to remove that competitive disadvantage and see even more economic development in our state.”
LISTEN:
Reeves invited those suffering under the heavy hand of government in blue states to move to Mississippi.
“Now that we have a phased-in approach to eliminating our income tax, when it comes to economic development and economic growth, Mississippi is seeing an unprecedented run,” he revealed.
“In fact, I just saw the numbers yesterday that came out for the fourth quarter of 2024. Mississippi was the second fastest growing economy amongst all 50 states. Our GDP growth rate from third quarter to fourth quarter grew faster than any other state in America, except for my friend Sarah Huckabee Sanders and the state of Arkansas. So what we’re seeing in Mississippi right now is truly a renaissance,” the governor added.
Breitbart News Saturday airs on SiriusXM Patriot 125 from 10:00 a.m. to 1:00 p.m. Eastern.
Read the full article here
