Mississippi Gov. Tate Reeves signed legislation last month signaling the eventual end of the state’s personal income tax. This historic moment, over a decade in the making, is a massive win for Mississippi workers, families and businesses. With the enactment of House Bill 1, our state is sending a clear message: Mississippi is open for business.
Mississippi isn’t alone in this ambition. Louisiana, Oklahoma, West Virginia and other states are also exploring income tax phase-outs, recognizing that taxing work hampers growth. But Mississippi got this win on the board first, and our move could ignite a wave of state-led reform. Extending the federal Tax Cuts and Jobs Act would be wise, but Mississippi proves that states needn’t wait for Congress to improve lives.
Nine states currently operate without an income tax: Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming. However, except for Alaska, none of these states ever had one to begin with. (With billions in oil revenue flowing in, Alaska repealed its income tax in 1980.)…