McRae: Growing Mississippi

By Treasurer David McRae

Apr 12, 2025- In recent years, Mississippi has made tremendous strides in helping job creators invest and expand throughout our communities. The results are proof that what we’re doing is working. In fact, we were just ranked number two in the nation for real gross domestic product (GDP) growth by the U.S. Department of Commerce’s Bureau of Economic Analysis.

What’s more: incomes have grown alongside the GDP. The analysis further boasted that Mississippi manufacturing incomes were ninth in the nation, while our agriculture, forestry, fishing and hunting incomes were the third highest.

Of course, when people are employed, reliance on social safety net programs decreases (saving taxpayer dollars). That proved itself true in this latest analysis as well. Mississippi was one of just four states to see a decrease in government assistance payments, which fell by about 0.7 percent. 

In recent weeks, the state legislature sought to double-down on that pro-growth mindset, putting Mississippi on track to become one of the first states to eliminate the income tax since 1980 (Kentucky passed a similar provision this year as well). With the new measure in place, Mississippi will no longer tax work – a testament to our values.

To help support our workforce, the State Treasury has simultaneously made changes to our education savings programs, making it easier to use one’s savings on a job-worthy education. More specifically, we expanded the Mississippi Affordable College Savings (MACS) to make sure families can use the funds on vocational training, certification programs, and other educational opportunities outside the traditional four-year degree programs. MACS is a flexible option that families can pursue for as little as a $25 initial contribution.

We still support the Mississippi Prepaid Affordable College Tuition (MPACT) program as well, which allows families to lock in today’s tuition rates and prepay your child’s tuition. For more information on either MACS or MPACT, please visit treasury.ms.gov or email CollegeSavings@Treasury.MS.gov.

I’m incredibly proud to be born and raised in Mississippi. We have strong values and a good way of life. I’m proud of the work every citizen, policy leader, and community has put into growing our state and making this a place that future generations can be grateful to call home. Keep up the good growth, Mississippi! 

Mississippi Treasurer David McRae is the 55th Treasurer for the State of Mississippi. In this role, he helps manage the state’s cash flow, oversees College and Career Savings Mississippi, and has returned more than $100 million in unclaimed money to Mississippians. For more information, visit Treasury.MS.gov.