Mississippi anticipates slight budget growth in coming year

Mississippi lawmakers on Friday set a $7.6 billion revenue estimate for the year beginning July 1, a 1% increase over the current year.

FILE - This Sept. 2, 2020 file photo shows the magnolia centered banner chosen by the Mississippi State Flag Commission displayed outside the Old State Capitol Museum in downtown Jackson, Mississippi. (AP Photo/Rogelio V. Solis, File)

Mississippi is in the process of reducing its personal income tax under a law that Republican Gov. Tate Reeves signed in 2022. In his budget proposal released in February, Reeves said he wants to erase the tax by 2029. Hosemann said Friday that he does not expect movement in that direction this year.

"I can't speak for the House. But for the Senate side, I don't think we're going to have any income tax cuts," Hosemann told reporters.

It has been months since state agencies submitted the budget requests for the coming year. Legislators rarely give agencies all the money they seek, and House Appropriations Committee Chairman John Read said that's likely to be the case again this session.

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"I'm going to do as much as I can," said Read, a Republican from Gautier. "We get requests. There's no way I can do 100% of requests, so I tell people to give me a priority list, and that's what I go on. We try to help everyone."

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