The Bureau of Economic Analysis (click here) reports today that:
State personal income growth accelerated to 1.8 percent in the first quarter of 2011, from 0.8 percent in the fourth quarter of 2010 ...
Mississippi experienced a 2.2% improvement in personal income (4th quarter 2010 to 1st quarter 2011), the largest percentage increase in the Southeast and the seventh largest percentage increase overall. However, the BEA notes the following:
A two-percentage point reduction in the personal contribution rate for social security accounted for most of the acceleration in first-quarter personal income growth in most states. The reduction in the contribution rate for social security is one of the provisions of the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010.
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