Tax credit could mean hundreds of dollars for some Mississippi f - MSNewsNow.com - Jackson, MS

Tax credit could mean hundreds of dollars for some Mississippi families

JACKSON, MS (Mississippi News Now) - Don't tune out the state's money talks. Governor Bryant has an idea that could help you.

He's calling it the Mississippi Working Families Tax Credit.

"People might argue,  well it's not a lot of money as you look at the potential for return $3-400 a year," said Bryant. "But it means a lot to working-class family."

The Governor estimates around 300,000 folks would be eligible for it the first year.

"People who get a tax credit put that money back into the economy," explained Bryant. "As I said earlier, they don't bury it in the backyard. They may put it in savings. But more than likely, particularly at that level, they're going to go out and invest it in a need for their family."

Your child's education was impacted with a chunk of the check for teacher pay raises last year. This year, Bryant wants to increase education funding by $52 million. That includes an increase for the MAEP formula.

"It's over 30% of the growth, the 3% growth that we see, is going to be," he described. "We think this is the largest funding of the MAEP with state-supported plans in Mississippi history."

Another big winner in last year's state budget was the Department of Public Safety. They got the needed money for a new trooper school. Now, the Governor wants to give a 3% pay raise for Troopers and drivers service division employees. That's something Commissioner Albert Santa Cruz was pleased to hear.

"A pay raise for especially the drivers license people," said Santa Cruz. "These people need money than anybody. Furnish their own transportation and a lot of them are making $20,000 a year. We have got to help them."

Bryant said Mississippi should start fiscal year 2016 in the best financial health it's ever had. The overall budget is nearly $62 billion.

For more budget details, click here: http://www.governorbryant.com/wp-content/uploads/2014/11/2016-Executive-Budget-Recommendation.pdf

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