Senator Jeff Tate is leading efforts in the Mississippi legislature to pass a proposed tax plan that would lower the grocery tax and income tax for residents in the state. The plan includes reducing the income tax from 4% to 3%, lowering the grocery tax, and adding a three cent gasoline tax over the next three years. The House of Representatives is reviewing a similar plan that includes an increase in sales tax and gasoline tax. The goal of these tax reductions is to lower the burden on Mississippi residents, with a focus on reducing taxes on work. Both chambers will discuss the proposed plans before bringing them to the Governor’s desk. Senator Tate emphasized the importance of reducing taxes on work, or what is commonly known as income tax, as a priority. The legislators are working to ensure that all departments can function effectively with the decrease in taxes. The proposed tax plan is part of ongoing efforts to improve the financial situation in Mississippi and provide relief for residents. For more updates on this and other news, subscribe to the daily newsletter from WTOK.
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