Fact Sheet:Updated Revenue Options For Mississippi

May 9th, 2011

While the recession is over, its effects are still being felt by the thousands of families in the state who are still out of work and for state revenue collections that have yet to rebound. State agencies that have been dealt successive years of budget cuts are struggling to provide services just when Mississippi’s families need them most.

For the state to be competitive when prosperity returns, Mississippi must take a balanced approach that includes raising revenues. Four options to raise revenue include updating sales, personal and corporate income taxes and temporarily reducing tax expenditures. These four options could generate over $370 million in additional revenue for the General Fund.

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