Video: State Legislators to Vote on Tax Cut Proposals for Middle Class

[syndicaster id=’5627572′]

COLUMBUS, Miss. (WCBI) – With the deadline looming on Wednesday, state legislators are considering multiple proposals that could provide tax cuts to Mississippi’s middle class.

“According to many of the periodicals that I’ve read, Mississippi has done less for the middle class in the last five to six years than a lot of states. So I think it’s time to help the middle class and give the working people a tax cut,” says Republican House Representative Jeff Smith, from District 39 in Columbus.

Smith, Chair of the House Ways and Means Committee, says he’ll propose reducing individual tax liability by increasing the amount of money a person must earn before paying taxes.

“The House has got an issue that we’re trying to get passed or tax legislation. It would bump up $5000 everybody’s tax liability,” says Smith.

Lieutenant Governor Tate Reeves has already proposed a $380 million tax cut that would lower taxes for businesses and individuals over several years. Opponents to Reeves’ plan say more corporate tax cuts aren’t needed and the focus should be on funding public education and healthcare. Smith believes the Senate and the House should be able to find some common ground to help middle class Mississippians.

“The Senate will pass their version of a tax cut. The House of Representatives will pass a tax cut and then we will combine them in what is called a conference committee and come out with some sort of tax decrease that will help the middle class,” says Smith.

Estimates show his proposal will cost the state general fund about $78 million. Smith says he will also consider Reeves’ tax cut proposal if it passes the Senate this week.