Mississippi eliminates income tax, claiming major economic growth
- Mississippi is set to become the 10th state to eliminate its income tax.
- Governor Tate Reeves highlights the expected economic benefits, including increased competitiveness and job growth.
- The move is part of a broader strategy to encourage investment and workforce development in the state.
In a significant move for fiscal policy, Mississippi, under the leadership of Republican Governor Tate Reeves, has decided to eliminate the state income tax, marking its position as the 10th state in the United States to do so. The announcement was celebrated by Reeves as a response to the increasing need for economic competitiveness against neighboring states such as Texas, Florida, and Tennessee, which do not impose an income tax. The governor highlighted that the elimination of the state income tax is expected to create an economic boom in Mississippi, a sentiment echoed throughout his exclusive interview with Fox News Digital. Over the past four years, Mississippi has already seen an unparalleled capital investment surge, totaling over $32 billion. This was coupled with historical employment figures, including the lowest unemployment rate in the state’s history last year, and a record high in the number of people working. Additionally, in 2024, Mississippi recorded the second-fastest growing economy in the United States. Reeves points out that these positive trends have resulted from a proactive stance towards lowering taxes on work, which he believes incentivizes workforce growth and increases income in the state. Governor Reeves further stressed that the proposed changes will level the economic playing field for Mississippi. By removing the income tax, he asserts that the state aims to attract new businesses and encourage investment, which should subsequently create more job opportunities. The commitment to a competitive economic landscape is reflected in the governor's assertion that the state has a larger