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MCRAE: Your Questions Answered | Mississippi News and Politics

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MCRAE: Your Questions Answered |  Mississippi News and Politics

By: Treasurer David McRae

One of my priorities as Treasurer of Mississippi is to make state government more accessible to you, the taxpayer. So in July, I held my first telephone town hall, which gave me the opportunity to update Mississippi people on the work our team is doing and answer any questions they have. I am incredibly honored to report that more than 4,000 Mississippiians chose to join the event.

The first thing we discussed was how families could use their next Child Tax Credit payment to save for college. Since 83 percent of those on the call reported being concerned about student loan debt (including 58 percent who said they were very concerned), it was a topic of great concern to those on the call, and probably for many who read today.

As you may already know, most Mississippi families began receiving a monthly Child Tax Credit payment of up to $ 300 per child on July 15. Many choose to invest these funds in a college savings account through the State Treasury. Affordable Mississippi College Savings Accounts are similar to a savings account you would get at a bank, but your earnings have some key tax advantages. The money you put into this account can be used for anything from books to tuition to learning programs. For more information visit Treasury.MS.gov/MACS.

During the telephone town hall, we also discussed unclaimed money, or funds that were somehow separated from their rightful owner. This money could be an inheritance you didn’t know you were entitled to or a refund of your electricity bill that was sent to the wrong address, for example. So far, my team has returned more than $ 30 million of unclaimed money to Mississippi residents, with more being claimed almost every day!

During the call, many people had questions about whether this money can be claimed on behalf of a deceased person. The answer is yes! Through the claims process, we will work to verify the rightful heir or heirs to the money. We recently returned a $ 200,000 inheritance to a Mississippi who did not know they were the closest of relatives! To search, visit Treasury.MS.gov/Search.

Finally, I updated callers on the state’s credit rating, which has gone from a negative AA to a positive AA over the last year. Eighty-one percent of Mississippi residents in City Hall reported that it was important to them that we protect the state’s credit rating, and I agree.

Thanks to everyone who participated in the town hall. I hope we can do it again soon. However, if you have questions in the meantime, please feel free to contact my office at 601-359-3600.

Mississippi Treasurer David McRae is the 55th Treasurer of the State of Mississippi. In this role, he helps manage the state’s cash flow, oversees College Savings Mississippi, and has returned more than $ 30 million in unclaimed money to Mississippi residents. For more information visit Treasury.MS.gov.
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