MS: Mississippi Beats Fiscal Year 2023 Revenue Expectations by Nearly $700 Million

Mississippi Gov. Tate Reeves announced that Mississippi revenue collections exceeded expectations by $699,647,493 in Fiscal Year 2023. In total, Mississippi collected $7,687,047,493, representing an increase of 4.11% over the previous year.
 
“Today’s announcement is further proof of our state’s economic strength and the effectiveness of our conservative budgeting practices,” said Governor Tate Reeves. “This money is burning a hole in Democrats’ pockets. They want to blow through this money by expanding welfare and spending it on pet projects. I want to return it to Mississippians.”
 
The nearly $700 million in collections is yet another major milestone for Mississippi under the Reeves administration. In May 2023, Mississippi’s unemployment rate reached an all-time low for the third consecutive month. Additionally, in 2022, Mississippi set a record in new private capital investment when it finalized over $6 billion in new economic development projects. This includes the largest economic development project in Mississippi’s history, a $2.5 billion investment that will create 1,000 jobs with an average annual salary of almost $100,000.

Mississippi students are also excelling in the classroom. Recently, the National Institute for Early Education Research recognized Mississippi as one of the top five states for high-quality pre-K. Mississippi’s high school graduation rate is currently at an all-time high, and the state is leading the nation in fourth grade reading and math gains. Media outlets and education experts from around the country have dubbed this historic success as the “Mississippi Miracle.”