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Brett Krittedge

Brett Kitchens

On the Friday before Independence Day, a number of bills that were adopted earlier this year became law. At the bottom of this email we ask for your favorite, so keep reading!

This is highlighted by the largest tax cut in state history, though the actual changes to the tax code and your taxes won’t hit until January. 

House Bill 531, the Mississippi Tax Freedom Act of 2022, phases in the more than $500 million tax cut over the next four years.

– In the first year, it eliminates Mississippi’s current 4 percent bracket that applies to the first $5,000 in taxed income.
– In years two through four, it reduces the rate that applies to all income over $10,000 from 5 percent down to 4 percent.
– Individuals will not pay income taxes on their first $18,300 of taxable income and families will not pay taxes on their first $36,600 of income.
– A worker who makes $40,000 per year will see their taxes reduced by $417 a year when fully implemented.
– A married couple making $80,000 would save $834 a year.

Empower’s Forest Thigpen breaks down the changes in full detail below.

How will income tax relief benefit you?
Other new laws:

– One of the goals of the session for virtually everyone in Jackson was teacher pay raises. With the change, teachers will see an average raise of over $5,000, while teacher assistants will receive a raise of about $2,000. The starting salary for a teacher with a Bachelor’s Degree will be over $41,000.
– House Bill 1416 will ensure that public school students can engage in political activities or discussions.
– Senate Bill 2422 will ensure teachers receive their supply cards before school begins.
– Senate Bill 2273 will allow employers to submit proof of employment as a substitute for regular meetings with their parole or probation officer, which can often be a hindrance to steady employment. This makes it easier for those leaving jail to work and re-enter society.
– House Bill 586 will expand a work release program that permits nonviolent offenders in the last year of their sentence to work for local businesses outside of jail. The program is currently running in Rankin county and has now been expanded to Harrison and Lee counties.

TELL US: What was the most important new law of 2022?

1. Tax relief

2. Teacher pay raise

3. Criminal justice reform measures

4. New state song

We love to hear from you. Have a great week.

– Brett

P.S. If you are interested in the microshool movement, which has exploded since the beginning of the pandemic, I encourage you to check out this upcoming online microschool event, hosted by Embark.

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MageeNews.com is an online news source serving Simpson and surrounding counties as well as the State of Mississippi.

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