politics @lemmy.worldEnglish · 4 days ago

These 9 states are cutting income taxes on Jan. 1. Here's where taxpayers will get a break.

www.cbsnews.com

These 9 states are cutting income taxes on Jan. 1. Here's where taxpayers will get a break.

www.cbsnews.com

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politics @lemmy.worldEnglish · 4 days ago

Summary

Nine states cutting income taxes on January 1, 2025: Indiana, Iowa, Louisiana, Mississippi, Missouri, Nebraska, New Mexico, North Carolina, and West Virginia.

Most reductions occur in Republican-led states, with changes like flat tax rates in Iowa (3.8%) and Louisiana (3%).

Democrat-led New Mexico targets middle- and low-income taxpayers.

Proponents argue these cuts enhance economic competitiveness, while critics warn of potential public service impacts.

Several states plan further reductions in coming years.

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Boddhisatva@lemmy.world
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3 days ago
Yes, we should. Sadly, in these Republican led states, the GOP has been gutting the education system since at least the Reagan era and they’ve been breathtakingly successful at it.

politics @lemmy.world

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