Georgia Budget & Policy Institute: Slashing Income Tax Delivers Meager Benefit to Most, Jeopardizes Public Services
ITEP Work in ActionGeorgia lawmakers are considering a pair of proposals that offer a miniscule tax cut to the majority of Georgia families and a massive benefit to the highest-income individuals who need it least, while jeopardizing lawmakers’ ability to meet the needs of a rapidly growing state. The first plan, House Bill 238, calls for a series of immediate changes to Georgia’s personal income tax that proposed earlier in Senate Bill 280 (LC 34 4760). Meanwhile, Senate Resolution 756 calls for a constitutional amendment to restrain the growth of Georgia’s future revenues and deliver further tax cuts down the road. That proposal is briefly explained in the companion GBPI fact sheet “Senate Resolution 756 Threatens to Disrupt Georgia’s Long-Term Finances.”