I won’t be wishing anyone a “Happy Tax Day” in this column because let’s face it – there’s nothing happy about Tax Day. Yes, some will be getting a refund, but most understand it’s a refund of YOUR money – money you overpaid to the government that they’re now returning with no interest attached. It’s frustrating to say the least. While we hear from many Mississippians during this time of year, the State Treasury doesn’t actually have anything to do with taxes (in Mississippi, it’s the Department of Revenue that is responsible for tax collection)! Once those tax revenues are delivered to the st ..read more

It wasn’t that long ago (maybe two or three years) that the term “debanking” existed far out of reach of the American lexicon. But in recent months, President Trump has drawn much-needed attention to this freedom-stifling tactic. If you aren’t familiar, debanking is a scheme used by large Wall Street institutions to impose their woke agenda on Main Street America, often prohibiting gun stores, energy companies, and conservative causes from accessing their banks or financing, making it all-but-impossible for these patriotic entities to do business. In other words, it’s yet another form of cance ..read more

I loved how Governor Tate Reeves summarized our economy during his recent State of the State Address: “[Mississippi] is based on timeless economies. Agriculture and Forestry. Manufacturing and Industry. Tradesmen, craftsmen, cultivators, and workers dominate our land.” And in today’s chaotic global environment, that is a solid foundation on which to stand. Afterall, regardless of the global dynamics, the world will need food to eat, lumber to build shelter, and tradesmen to fix and create; all of this can be secured here in Mississippi. To maintain these industries and grow our economy even fu ..read more

One of my responsibilities as State Treasurer is to help improve the financial wellness of families within our state. Over the last few years, significant strides have been made. In fact, in 2017, our state was barely earning a passing grade in the Champlain College’s Center for Financial Literacy Report Card. In 2023, however, the state’s metrics changed. Mississippi High Schools boosted their grades, now earning an “A” for their financial education programs. This meant that we became one of just 12 states in the country to improve our rating over the six-year period. The emphasis on youth fi ..read more

It’s tax season in Mississippi! Many are gathering their W-2’s, organizing the various other documents they’ve received in the mail, and filling out the IRS’s onerous paperwork. It’s a lot, but I might have one more piece of paper to add to the mix that could shave a little extra off your tax bill. Many don’t realize that a contribution to a 529 education savings account (like those offered through Mississippi College and Career Savings) comes with some real tax advantages. Before we get into those advantages, let me explain what 529 education savings are. In Mississippi, you have two primary ..read more

This February, President Biden announced he will be forcing taxpayers to foot the bill for another $1.2 billion in student loan cancelations. This is wrong. Mississippians who have paid off their debt or chose not to attend college shouldn’t be responsible for paying other people’s collegiate bills. It’s as simple as that. Of course, there’s no denying that student debt is a problem in the United States. As of mid-2023, Americans held about $1.77 trillion in student loan debt. Mississippians are not immune to it either. In fact, we rank 10th in the nation for the highest amount of student ..read more

One of the roles I have as your State Treasurer is to run the state’s 529 education savings program, which allows individuals and families to fund educational expenses for future learning opportunities. If you’ve been tracking us closely, you may have noticed our recent name change from College Savings Mississippi to Mississippi College and Career Savings. This change was made to better reflect our mission and the capabilities we have to help Mississippians. Our team continues to help families financially prepare for a four-year college career, but we’re now able to do much more than that. Our ..read more

There are very few true win-wins in this world, but in recent weeks, the State Treasury has found an opportunity for both taxpayers and our ally Israel to prosper. Since the October 7 terrorist attack, Israel has been forced to fight for its life as the only Middle Eastern democracy. It’s a battle that has cost both blood and treasure. Last week, the State Treasury purchased $10 million worth of Israeli bonds to support our ally as it fights to exist in a dangerous neighborhood. While this investment comprises just a small fraction of Mississippi’s investment portfolio, it’s impact on our ally ..read more

JACKSON, Miss. – State Treasurer David McRae announced today the state’s 529 program has rebranded to become Mississippi College and Career Savings. The name change better reflects the true capacity of the program, which can be used for traditional four-year colleges, as well as vocational programs, apprenticeships, and other career training. “For years, Mississippi’s college savings program has helped put educational goals within the financial reach of hundreds of families,” said McRae. “Over the years, however, our mission has evolved to better align with Mississippi’s workforce needs. A nam ..read more

As the State Treasurer, it is my job to be a good steward of Mississippi’s money and to responsibly manage our state’s budget, but I’m also asked to help expand financial wellness to others across our state as well. If you read my columns often, you’ll probably notice a trend. In nearly every piece I write about financial wellness, I advocate that families begin with a budget. I hate to break it to you, but I’m going to do that again today (I’m just a firm believer in it)! Today, I wanted to bust through four common budgeting myths. MYTH #1: Setting a budget is too complicated.I mean it when I ..read more