JACKSON, Miss. (AP) — Mississippi House and Senate leaders have reached a deal to reduce the state income tax over four years. Negotiators announced it Saturday. Starting next year, the 4% income tax bracket would be eliminated.
The following three years, the 5% bracket would be reduced to 4%. The plan will come up for House and Senate votes in coming days. Saturday night was the deadline for legislators to file final versions of tax bills and budget bills. They missed the budget deadline and filed placeholder bills.
They have a Monday deadline to finish work on spending plans. The state budget year begins July 1.