Recent Updates
MEPC Public Comments - Governor's Tax Study Commission
On Tuesday, August 19, the Governor's Tax Study Commission met to discuss recommendations for the final report. MEPC's public comments on the report are available for your review by clicking here.
Overall, the Commission approved multiple recommendations to strengthen working families including recommendations to eliminate state income tax liability for working Mississippians with below poverty level wages. Some of MEPC's recommendations not discussed included provisions to reduce grocery taxes and the implementation of a state Earned Income Tax Credit. Both would create economic opportunities for working families. Additional information that would be helpful in the evaluation of the recommendations would include an overview of who will pay more or who will pay less as a result of the proposed changes.
One of the primary concerns highlighted in the public comments of MEPC included the absence of estimates for revenue gains or losses for each recommendation. During the meeting part of the concern was addressed as estimates were provided to the committee and those in attendance.
Tax Reform for Working Mississippians
With gas prices and food costs soaring, hundreds of thousands of Mississippians are working hard and struggling to make ends meet. During these times of uncertainty, changes to the state's tax structure offer shared prospertity and economic opportunities to move working Mississippians forward. Click here to view the tax reform recommendations.
Increasing Unemployment Insurance Benefit Amounts would Create Opportunities for Working Families
Mississippi currently has the lowest unemployment insurance benefit in the country. In the face of rising costs for gas, groceries and health care during slow economic times, Mississippians who have been laid off have fewer resources to make ends meet and get back to work. An increase in the benefit amount would create opportunities for families to get back to work more quickly while covering basic living expenses. Click here for more information.
National Crisis Hits Home: Addressing Mississippi's Mortgage Foreclosures
A newly released report from the Mississippi Economic Policy Center (MEPC) shows that Mississippi has the eighth highest foreclosure rate and the highest percentage of borrowers with past due home loan payments in the country. The high rate of delinquency coupled with a very high rate of subprime, or high cost, lending suggests that Mississippi is likely to experience increasing rates of foreclosures in the months to come. "National Crisis Hits Home" examines the issue and offers policy recommendations to address mortgage foreclosures in Mississippi. Click here for a copy of the report.
Stabilizing Jobs: Policy Options to Strengthen Mississippi's Child Care System
An estimated 80,000 children below the age of 13 live in low-income working families and do not receive child care assistance. The absence of child care can compromise work efforts for families and employee retention for businesses. By working together across agencies and sectors Mississippi will build a system that supports working families and helps employers maintain a stable workforce that strengthens their bottom line. Click here for a copy of the report.
A State Earned Income Tax Credit: Strengthening Mississippi's Working Families
With the recent announcement of the Mississippi Tax Study Commission, Mississippians have been given the opportunity to strengthen the tax code by making it less regressive. Through the enactment of a state Earned Income Tax Credit, Mississippi would achieve the goal of a less regressive tax structure resulting in a net tax cut that boosts local economies, benefits every legislative district in the state and builds systems that support the state’s working families with little administrative burden. For a full report on how the state credit would benefit working Mississippians click here.