Nine U.S. states cut individual income tax rates in 2025, aiming to boost economies.

Nine U.S. states will reduce their individual income tax rates starting January 1, 2025. This trend follows a period during the pandemic where states saw an increase in tax revenue. The Tax Foundation identifies this as part of a broader state-level tax cut initiative, viewed by some as a move that could lead to reduced public services. States like Indiana, Iowa, and Mississippi are among those lowering their rates, aiming to boost their economies and attract businesses and residents.

January 01, 2025
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