February 13, 2019

Did You Know | Corporate Tax Cuts

did you know corporate tax cuts (1)

As we continue to push lawmakers on providing Mississippi teachers with a substantial pay raise, the comment we are met with most often is, “well, sure, of course we’d like to pay teachers but how could we possibly afford to pay for that?!”

Meanwhile, thanks to huge corporate tax cuts passed in 2016, Mississippi will lose out on $46.5 million in revenue in 2019. By 2028, that number will swell to $415 million per year.

These tax cuts are intended to help spur economic growth by eliminating taxes that some would say create an unfriendly business environment. They say they *think* these cuts will encourage corporations to make their home in our state and invest in Mississippi.

That’s quite a gamble to make with money that could be invested in critically-needed infrastructure repair, education funding, and yes; teacher pay raises.

You know what isn’t a gamble when it comes to economic growth? Investing in education and investing in educators.

By the way—78% of those corporate tax cuts are going to out-of-state corporations.

We have to shift the way we think about paying teachers and education funding. It’s more than just dollars and cents: it’s an investment in the future of the state of Mississippi.

#ShowYourWork

Franchise tax cut helps out-of-state companies the most

Mississippi’s largest-ever tax cut begins