As Business leaders from across Mississippi gathered in Jackson for the Mississippi Economic Council’s Capital Day event, Speaker of the House Philip Gunn questioned why the organization had not yet backed his plan to eliminate the state income tax. He says multiple organizations, think tanks and agencies have publicly backed his bill.
“Why is MEC not on this list? Every one of these organizations are looking for ways to promote economic prosperity. This organization by its very mission statement and vision and why do we join MEC is right in line with the missions of those other organizations,” Speaker Gunn told the crowd.
Gunn’s plan would eliminate the full income tax in Mississippi, while another tax-reduction bill from the Senate would reduce more types of taxes overall and eliminate a portion of the state’s income tax. Scott Waller, President and CEO of the Economic Council, says tax reductions are generally great for businesses and employees. But he says he would like to see lawmakers in the House and Senate find common ground to pass consistent and fair tax cuts.
“Last year when this issue came up, we had some conversations with the Speaker and House leadership about what we felt like we need to see,” says Waller. “There’s been some movement there. I think you have a different approach in the Senate. Hopefully, the two sides can get together and find some common ground. If that can happen then maybe there will be a way to move forward on this that will provide that opportunity for us to start moving in that direction.”
Business leaders say one of the best ways to invest in Mississippi’s workforce is to improve opportunities for higher education and trade school.
