Philip Gunn says too early to discuss tax decrease

Legislative budget leaders have recommended a $6.013 billion total state budget for the next fiscal year, which is less than the $6.2 billion budget proposed last month by Gov. Phil Bryant.

The Joint Legislative Budget Committee recommendations include no mention of a possible tax decrease that some state leaders including Bryant, Lt. Gov. Tate Reeves and House Speaker Philip Gunn have broached.

When asked today, Reeves said he believes it's time to have a discussion about possibly decreasing taxes. Gunn agrees it is something that should be looked at, but says it way too early for that discussion.

"We are a long way from making that decision," Gunn said.

Bryant's proposal calls for a tax credit to an estimated 300,000 families and individuals, provided the state economy continues modest growth. Income limits for the credits would be based on those used for federal tax credits. The credits would range from a little more than $400 a year per family to about $100 a year, based on income and number of children.

The Legislative Budget Committee $6 billion budget proposal include $32.1 million more for the Mississippi Adequate Education Fund to fund the second year of a two-year, $2,500 teacher pay raise. It also includes $20 million in additional funds to replace some of the state's failing bridges, $1.5 million in additional funding for new highway patrol officers, and $900,000 in funding for additional assistant district attorneys.

Most other agencies would see a slight decrease in funding or their budget would remain the same under Legislative Budget Committee recommendations.

Contact Jimmie E. Gates at jgates@jackson.gannett.com or (601) 961-7212. Follow @jgatesnews on Twitter.