NTU's State Affairs team sent the following letter to Mississippi Governor Reeves, urging action on an important piece of tax legislation.
Dear Governor Reeves,
On behalf of taxpayers nationwide, National Taxpayers Union (NTU) urges you to sign into law House Bill 531 - a bill that will create the largest tax cut in the history of your state.
Founded in 1969, NTU is the oldest non-partisan taxpayer advocacy group in the country. NTU consistently advocates for policies which lessen burdensome taxation, streamline inefficiencies in government, promote private markets, and so much more. We are dedicated to taxpayers and to the belief that citizens make the best decisions regarding their hard earned money.
House Bill 531 achieves these goals and will put Mississippi on the map as a leader in tax reform. When fully implemented, Mississippi will have the fifth lowest marginal tax rate among states that have an income tax. All in, the bill represents a $524.1 million tax cut to the hard-working people of your state. This reduction in taxation represents real dollars for people who have experienced hardships over the last couple years due to the economic effects of the global pandemic. This tax cut will boost disposable household income and, in turn, infuse your state’s economy with revenues that will give you and state lawmakers the ability to meet future budgetary goals.
Along with providing individuals with more dollars in their pockets, House Bill 531 will boost businesses that have also suffered due to the pandemic. Increasing business cash flow will allow owners to expand, increase hiring and further invest in the state’s economy. This is a win-win situation for all.
Finally, once enacted, House Bill 531 has the great potential to attract further economic growth in your state. This legislation has achieved overwhelming and bipartisan support in both the House and the Senate. It now awaits your signature to ensure that this bold reform will become a reality.
Vice President of State Affairs
Director of State Affairs