Americans Are Paying Less on Tax Day Thanks to Tax Cuts Passed by State Republicans
Washington D.C. – While Americans across the country are struggling to pay their taxes by today’s deadline, those living in red states owe less thanks to state Republicans. Since last Tax Day, 18 Republican-led legislatures have passed legislation cutting their income tax rates to counteract Joe Biden’s failed liberal policies and provide their constituents experiencing the hardship of record inflation with relief.
“Due to their reckless tax-and-spend agenda, Joe Biden and his Democrat allies in the states are the reason Americans are experiencing price hikes on everything from gas at the pump to food at the grocery store,” said RSLC President Dee Duncan. “With inflation is at the highest level in over 40 years, Republican legislators are offsetting Biden’s failures and helping their states recover passing tax relief legislation for hardworking families.”
Tax Day follows the Labor Department’s release of state employment data last week showing the economies of states with Republican-controlled legislatures are outpacing their Democrat counterparts and after the Washington Times editorial board this weekend noted,
“Biden should be thanking Republican governors and state legislators for counteracting his disastrous agenda with smart, conservative ideas that are working to counteract the damage he has done at the national level.”
The RSLC also released a new video today highlighting the 18 Republican-led states that have cut taxes since last Tax Day. Watch “Paying Less,” HERE.
BACKGROUND
Republicans in Arizona passed legislation in June that:
Implements a flat tax of 2.5% for nearly everyone and eliminates the state’s taxation system that ranged from 2.59% for the first roughly $54,000 of income to 4.5% for income above about $327,000. Arizonans earning between $75,000 and $100,000 will save $231 a year in state income taxes.
Republicans in Arkansas passed legislation in December that:
Will lower the top tax rate for individuals from 5.9% to 4.9% over the next four years.
Will provide an additional tax credit for people who make less than $23,600.
Republicans in Florida passed legislation in May that:
Provides more than $168 million in taxpayer savings for families and businesses.
Offers a tax relief on hurricane supplies like flashlights, batteries, and generators.
Creates Florida’s first permanent sales tax exemption for independent living items for seniors like shower seats and grab bars.
The inaugural Internship Tax Credit provides tax relief for Florida businesses that employ and retain student interns, encouraging companies to hire young Floridians attending college in the state.
Republicans in Georgia passed legislation in March and April that:
Reduces the state’s income tax rate from 5.75% to 4.99%.
Projected to save taxpayers over $2 billion.
Provide taxpayers who filed in 2020 and 2021 a $250 to $500 tax refund.
Republicans in Idaho passed legislation in February that:
Implements the largest tax cut in Idaho history, with $600 million in taxpayer savings.
Republicans in Indiana passed legislation in March that:
Reduced the income tax rate to 2.9% which will save Hoosiers over $1 billion per year.
Republicans in Iowa passed legislation in February that:
Reduced taxes and implemented a flat tax of 3.9% for all Iowans.
Republicans in Louisiana passed legislation in June that:
Lowers the state’s income tax rates. This was approved by the Louisiana voters by referendum in November.
Republicans in Mississippi passed legislation in April that:
Implements the largest tax cut in state history.
The 4% income tax bracket will be eliminated, the 5% bracket will be reduced to 4%.
Republicans in Missouri passed legislation in June that:
Reduces the income tax rate to 4.8%.
Republicans in Montana passed legislation in June that:
Will reduce the number of income tax brackets from seven to two.
Cuts taxes for the top marginal tax rates from 6.9% to 6.75% in 2022, and then to 6.5% in 2024.
Conservatives in Nebraska passed legislation in April that:
Will faze in a transformative tax cut that will keep $900 million in citizens’ pockets.
Republicans in North Carolina passed the largest tax cut in state history in December that:
Reduces the state’s individual income tax rate from 5.25 to 4.99 percent next year and will lower that rate to 3.99 percent by 2027.
Republicans in North Dakota passed legislation in November that:
Provides $211 million in income tax relief over the next two years that eliminates the state income tax bill for about 300,000 North Dakota taxpayers and provides partial relief to another 200,000 taxpayers.
Republicans in Ohio passed legislation in July that:
Reduces personal income tax rates by 3% in tax year 2021 and beyond. In addition, the top bracket is eliminated and the new top rate is reduced further to 3.99%.
Republicans in Oklahoma passed legislation in May that:
Reduces all individual income tax rates by 0.25 percentage points across the board.
Republicans in Utah passed legislation in February that:
Cuts the state’s income tax from 4.95% to 4.85% and will deliver $200 million in savings for taxpayers.
Republicans in Wisconsin passed legislation in July that:
Cuts income taxes by $2 billion over two years, by lowering one tax bracket from 6.27% to 5.3%. The cut would apply to individuals making between $23,930 to $263,480 and married couples filing taxes jointly who earn between $31,910 and $351,310.
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