BILOXI, MS (WLOX) - As we approach the New Year, state leaders are getting ready to work on the new Mississippi budget. The legislative session kicks off in January.
Gov. Phil Bryant has released his budget plan. He has proposed a $78.7 million tax cut for families earning less than $50,000 a year.
Bryant stopped by WLOX and explained how the Mississippi Working Families tax credit will stimulate the economy.
"We need to return it back to the people, because they spend it," said Bryant. "They invest in it. They don't bury it in the backyard. $500 to $600 in revenue coming back to you as a taxpayer means that you are able to go out and start school or buy more clothes for the children. Buy those school supplies. It's to put gasoline in your car. It's to help pay their mortgage down, even with that small amount."
Legislative leaders will release a budget proposal in December. They have an April deadline to adopt a budget for the next fiscal year.
Tune in to WLOX News at 10 p.m. Sunday to see the entire interview with Bryant.