A new legislative study group has been created in Mississippi to assess the state’s spending habits and look for methods of ensuring tax dollars are being efficiently used by the government.
Lt. Governor Delbert Hosemann announced the State Fiscal Policy Study Group which will be co-chaired by Senate Appropriations Chairman Briggs Hopson, R-Vicksburg, and Senate Finance Chairman Josh Harkins, R-Flowood, on Tuesday. The purpose of the newly configured group is to look into ways lawmakers can be more responsible with public money in order to lower taxes.
“Our ultimate goal is always to lower the tax burden and ensure taxpayer dollars stay in taxpayer pockets,” Hosemann said. “This requires Appropriations and Finance leadership to be at the table looking at all income and expenses to ensure we are being as efficient as possible while fully funding necessary services.”
According to a press release from Hosemann’s office, the State Fiscal Policy Study Group will hold public hearings and hear testimony on current taxes, tax credits, bonds and bond capacity, diversions, and other budget and economic issues relating to revenues and expenditures by the state. All hearings will be webcast and archived on the state legislature’s website.
The lieutenant governor went on to tout his leadership when presiding over the Senate, noting that the legislature passed the largest tax cut in Mississippi just a couple of years ago. He further added that the tax cut eliminated the 4% income tax bracket and, in 2026 when fully phased in, will reduce the top rate from 5% to 4% — cutting an estimated $524 million in recurring revenue to the state.
As Mississippi is set to see a drastic reduction in revenue, the new task force will serve to prepare the legislature for future budgeting obstacles and how to maneuver through them without placing an additional burden on taxpayers in the poorest state in the U.S.
Joining Hopson and Harkins on the State Fiscal Policy Study Group are:
- Sen. Andy Berry, R-Magee
- Sen. Bradford Blackmon, D-Canton
- Sen. Rod Hickman, D-Macon
- Sen. Chris Johnson, R-Hattiesburg
- Sen. Dean Kirby, R-Pearl
- Sen. John Polk, R-Hattiesburg
- Sen. Derrick Simmons, D-Greenville
- Sen. Daniel Sparks, R-Belmont
The fiscal policy study group is the latest announced by Hosemann. Back in June, the state official created a labor force participation study group and reinstituted the study group on women, children, and families.
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