The Mississippi Freedom Caucus is proud to have been a part of passing the largest tax cut in the Mississippi's history. We fight every day for you to keep more of your money. We believe that people, not government, know best how to spend their own money. When people keep more of their hard-earned money, jobs and economic growth will flourish in the free market system.
Highlights of the income tax compromise plan include:
- Eliminating the 4% tax bracket by 2023
- Single income taxpayers do not pay taxes on first $18,300 of income
- Married filers do not pay taxes on first $36,600 of income
- 5% bracket cut to 4.7% by 2024, 4.4% by 2025 and 4.0% by 2026
- Provides tax relief of $525 million per year by 2026
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