BY: John Scott | MS Business Journal
The state has filled its rainy day fund. Revenue projections are running ahead of budget. Now, through the leadership of Gov. Bryant, Lt. Gov. Reeves and Speaker (Philip) Gunn, our elected officials are looking at ways to return tax dollars to hard-working Mississippians.
A tax cut, particularly targeted at lower-income wage earners and self-employed workers, is under consideration. This could most easily be accomplished through an increase in the standard deduction up to certain income levels. Or, if properly designed, the Democrat proposal to reduce the sales tax rate on groceries could be appealing.
In any event, these ideas are currently being studied proactively for the 2015 Legislative Session, as they should be. That is leadership and vision.