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Did you know that Mississippi is now one of the fastest growing states in America? Only two states saw real GDP rise faster than it did here in the third quarter of 2024.
Were you aware that personal income in our state rose more here than almost anywhere in the US this past year?
New data from the Bureau of Economic Analysis shows that Mississippi is on the up.
Getting richer, faster: Mississippi income growth is one of the fastest in America
For as long as anyone can remember, Mississippi has ranked 50th out of 50. Not for much longer, perhaps. According to this new data, ours’s was one of the top performing states in 2024. If we keep growing for the next few years the way we did in 2024, we won’t be bottom of the class for much longer.
Mississippi’s success is not an accident. It’s a consequence of a number of key free market reforms:
- Labor market deregulation, with an Occupational Licensing law in 2021.
- Tax cuts with legislation to cut the state income tax to a flat 4 percent in 2022.
- Further tax reform to make it more tax efficient for businesses in 2023.
- Education funding reform as a step towards school choice in 2024.
These reforms have begun to energize our state. They make it easier for people to get ahead, for businesses to invest, and for families to spend their income on their priorities. They draw in inward investment, which is changing our state for the better.
Powering ahead: Mississippi output growth is one the fastest in America
If Mississippi is not to lose this momentum, we need to go even further. That is why MCPP has just published a Blueprint for Mississippi – a list of the ten key reforms that would lift our state to the top of the economic table.
The number one reform we need to prosper is school choice. Why? School choice is the only way to be certain of raising standards. The better job we do of educating young people, the greater their chances of leading a prosperous, fulfilling life.
Our Blueprint sets out how we can accomplish school choice, giving every family in our state the choices that today only the very rich enjoy.
To prosper, our state needs less regulation and less government. Our Blueprint sets out proposals to cut taxes further and dismantle the costly, leftist bureaucracy that seems to be in control no matter who you vote for.
Decades of crony cartel politics has stifled innovation in our state. Years of lobbyists cutting cozy deals in the Capitol that commercially advantage their clients has held Mississippi back. A lot of the intentionally restrictive laws that limit health care provision simply need to go. Our Blueprint sets out how to make this happen.
MCPP has been a driving force behind many of the key free market reforms that have helped energize our state. But at every opportunity, crony cartel politics has tried to prevent change.
The crony cartel will try again. It’s what self-serving cartels do. Already they are mobilizing half-baked arguments against school choice. They are lobbying to maintain intentionally restrictive laws that hold back the healthcare economy. Brace yourself for politicians explaining why we can’t afford tax cuts despite a healthy surplus.
In politics, nothing moves unless it is pushed. MCPP won’t just publish our Blueprint. We will push and push hard. Mississippi’s future is too important to let bad politics get in the way.
Mississippi could be on the cusp of transformative changes. If we keep going, we will not only no longer be 50th, but we could become – like Tennessee or Alabama – a state that young people want to move to, not leave.
To get your copy of our Blueprint have a look at our website mspolicy.org
Douglas Carswell is the President & CEO of the Mississippi Center for Public Policy.
MageeNews.com is the online news source for Simpson and surrounding counties as well as the State of Mississippi
