Mississippi announced the elimination of income tax: 'A victory for families'

Mississippi announced the elimination of the income tax. Gov. Tate Reeves signed the Rebuild Mississippi Act on Thursday, which will phase out this tax until it reaches zero. From the current 4.7%, it will go to 3% and eventually cease to exist. The law also reduces the food tax from 7% to 5%.

Reeves led a rally at the Governor's Mansion, where he gathered local leaders, allies and representatives, whom he thanked for sending the bill to his desk.

With this legislation, Mississippi joins the exclusive club of states that do not collect income taxes, which includes Florida, Tennessee, South Dakota, New Hampshire, Nevada, Wyoming, Alaska and Washington.

"I am proud to sign into law a complete elimination of the individual income tax in the state of Mississippi. (...) Generations from now, when our kids are raising families of their own in a stronger, more prosperous Mississippi, they will look back on this moment and say, ‘This is when we took our shot.’ To the people of Mississippi, you are the real winners today," Governor Reeves celebrated in a statement.

"We are saying to entrepreneurs, to workers, to dreamers: Mississippi is open for business — and we won’t penalize your success. We are going to compete — and we’re going to win. Now, I want to be clear: this didn’t happen overnight. And it didn’t happen alone. This day is the result of years of work by dedicated leaders who shared the vision and had the courage to act," the Republican added.

Reeves, 50, has an extensive political record in the state. He spent eight years as treasurer and another eight as lieutenant governor and is now serving his second term as governor, which will end in early 2028.

"And I believe with all my heart that we will look back on this day as a turning point, a generational victory, and a proud legacy we leave for those who come after us," the governor finished.