Georgia
How the House and Senate Tax Bills Would Affect Georgia Residents’ Federal Taxes
December 6, 2017 • By ITEP Staff
The House passed its “Tax Cuts and Jobs Act” November 16th and the Senate passed its version December 2nd. Both bills would raise taxes on many low- and middle-income families in every state and provide the wealthiest Americans and foreign investors substantial tax cuts, while adding more than $1.4 trillion to the deficit over ten years. The graph below shows that both bills are skewed to the richest 1 percent of Georgia residents.
How the Revised Senate Tax Bill Would Affect Georgia Residents’ Federal Taxes
November 14, 2017 • By ITEP Staff
The Senate tax bill released last week would raise taxes on some families while bestowing immense benefits on wealthy Americans and foreign investors. In Georgia, 60 percent of the federal tax cuts would go to the richest 5 percent of residents, and 19 percent of households would face a tax increase, once the bill is fully implemented.
How the House Tax Proposal Would Affect Georgia Residents’ Federal Taxes
November 6, 2017 • By ITEP Staff
The Tax Cuts and Jobs Act, which was introduced on November 2 in the House of Representatives, includes some provisions that raise taxes and some that cut taxes, so the net effect for any particular family’s federal tax bill depends on their situation. Some of the provisions that benefit the middle class — like lower tax rates, an increased standard deduction, and a $300 tax credit for each adult in a household — are designed to expire or become less generous over time. Some of the provisions that benefit the wealthy, such as the reduction and eventual repeal of the estate…
GOP-Trump Tax Framework Would Provide Richest One Percent in Georgia with 74.8 Percent of the State’s Tax Cuts
October 4, 2017 • By ITEP Staff
The “tax reform framework” released by the Trump administration and congressional Republican leaders on September 27 would not benefit everyone in Georgia equally. The richest one percent of Georgia residents would receive 74.8 percent of the tax cuts within the state under the framework in 2018. These households are projected to have an income of at least $552,200 next year. The framework would provide them an average tax cut of $83,070 in 2018, which would increase their income by an average of 4.0 percent.
In Georgia 50.0 Percent of Trump’s Proposed Tax Cuts Go to People Making More than $1 Million
August 17, 2017 • By ITEP Staff
A tiny fraction of the Georgia population (0.6 percent) earns more than $1 million annually. But this elite group would receive 50.0 percent of the tax cuts that go to Georgia residents under the tax proposals from the Trump administration. A much larger group, 50.0 percent of the state, earns less than $45,000, but would receive just 5.6 percent of the tax cuts.
Trump Tax Proposals Would Provide Richest One Percent in Georgia with 58.5 Percent of the State’s Tax Cuts
July 20, 2017 • By ITEP Staff
Earlier this year, the Trump administration released some broadly outlined proposals to overhaul the federal tax code. Households in Georgia would not benefit equally from these proposals. The richest one percent of the state’s taxpayers are projected to make an average income of $1,892,900 in 2018. They would receive 58.5 percent of the tax cuts that go to Georgia’s residents and would enjoy an average cut of $120,130 in 2018 alone.
Investors and Corporations Would Profit from a Federal Private School Voucher Tax Credit
May 17, 2017 • By Carl Davis
A new report by the Institute on Taxation and Economic Policy (ITEP) and AASA, the School Superintendents Association, details how tax subsidies that funnel money toward private schools are being used as profitable tax shelters by high-income taxpayers. By exploiting interactions between federal and state tax law, high-income taxpayers in nine states are currently able […]
Public Loss Private Gain: How School Voucher Tax Shelters Undermine Public Education
May 17, 2017 • By Carl Davis, Sasha Pudelski
One of the most important functions of government is to maintain a high-quality public education system. In many states, however, this objective is being undermined by tax policies that redirect public dollars for K-12 education toward private schools.
All Is Peachy in Georgia, for Now
March 31, 2017 • By Dylan Grundman O'Neill
Georgia lawmakers ended their legislative session Thursday by enacting a few tax credits and smartly choosing not to pass a major income tax cut that had been working its way through the legislature. Policymakers in other states should take note and follow Georgia’s lead by rejecting costly and inequitable flat-tax and other high-income tax cut […]
Georgia Budget and Policy Institute: Targeted Fix to Income Tax Package Can Deliver Georgians a Win
March 9, 2017
Georgia lawmakers are considering a large income tax proposal with three sound tax policy reforms alongside one serious shortcoming. On the plus side, the current bill proposes to boost families with a new Georgia Earned Income Tax Credit (EITC), close an outdated loophole and index several broadly available exemptions to ensure they keep pace with […]
Georgia Budget & Policy Institute: Income Tax Bill Offers Earned Income Tax Credit Upside, Flat Tax Downside
February 22, 2017
Members of the Georgia House are set to consider a large income tax proposal that contains a mix of positive reforms and measures that raise significant concerns. Some aspects of the bill offer benefits to working class Georgia families, while others could harm similar taxpayers or unduly jeopardize state revenues. While the bill provides a […]
Georgia Budget & Policy Institute: Georgia Stands to Lose Millions from Crackdown on Young Immigrants
February 1, 2017
The potential for harsher federal immigration policies under the new presidential administration poses special concern for young Georgians whose parents brought them to the United States as children. A new federal crackdown threatens to wreak havoc in the lives of tens of thousands of young Georgians who now enjoy some limited legal protections that allow […]
Georgia Budget & Policy Institute: Young Immigrants Vital to Georgia’s Workforce, Healthy Economy
February 1, 2017
Potential harsher federal immigration policies under the new presidential administration pose special concern for young Georgians whose parents brought them to the United States as children. A new federal crackdown threatens havoc for tens of thousands of young Georgians who now enjoy some limited legal protections which allow them to work, go to school and […]
Patch: Georgia Gas Taxes Edge Up In 2017
January 9, 2017
“In the Peach State, the price of a gallon of of gasoline increased by 0.3 cents on January 1 and the price of a gallon of diesel increased 0.4 cents, according to the Institute on Taxation and Economic Policy. The size of the increase was figured by a new formula approved by Georgia lawmakers that […]
Georgia Budget & Policy Institute: A Bottom-Up Tax Cut to Build Georgia’s Middle Class Update
December 16, 2016
Building a better Georgia, with a strong economy and vibrant communities, requires a more resilient middle class and more opportunities for working families to climb the economic ladder. One of the best tools to help ensure that all Georgians share in that prosperity is a state-level Earned Income Tax Credit (EITC), or Georgia Work Credit. […]
Chattanooga Times Free Press: Tennessee now holds sales tax holiday on same weekend as Georgia
July 28, 2016
“Seventeen states, primarily in the Southeast, stand to lose more than $300 million in tax revenue because they waive sales taxes on back-to-school items and other goods, including hunting gear, energy-efficient appliances and severe weather preparedness, according to the Institute on Taxation and Economic Policy, a nonprofit, nonpartisan research organization with offices in Washington, D.C., […]
WSB-TV Atlanta: Social media ad sparks concern about some losing homes
June 23, 2016
“A recent study by the Institute on Taxation and Economic Policy found that one in three undocumented immigrants in the U.S. own their own homes and pay billions of dollars in property taxes yearly.” Read more
Georgia Budget & Policy Institute: Georgia Work Credit Could Get Families a Better Deal at Tax Time
April 16, 2016
As Georgians put the finishing touches on their returns to meet today’s income tax filing deadline, one benefit many are missing out on is a tax credit that states can offer to help average families get a fair deal. Twenty-six states and the District of Columbia provide taxpayers with a state-level match for the Earned […]
Georgia Budget & Policy Institute: Lawmakers Wise to Reject Reckless Income Tax Measures
March 25, 2016
This year’s General Assembly produced no shortage of big debates, with subjects from religious exemptions to rape kits grabbing statewide and even national headlines. But beneath the surface lurked a serious threat to Georgia’s well-being that didn’t make it onto many front pages or the late night shows. A pair of tax-slashing proposals, House Bill […]
Georgia Budget & Policy Institute: Tax Breaks, Income Tax Cuts Could Harm Georgia Finances
March 1, 2016
A variety of tax bills await further consideration by state legislators as the Georgia General Assembly enters its final few weeks of the 2016 session. There are 11 tax bills affecting state revenues still alive after Crossover Day, the point where bills must clear at least one legislative chamber to have a good chance at […]
Georgia Budget & Policy Institute: Senate Resolution 756 threatens to disrupt Georgia’s long-term finances
February 26, 2016
Senate Resolution 756 threatens to undermine Georgia’s ability to remain an attractive state for families and businesses. Passing the amendment creates a rigid formula in Georgia’s constitution that inflicts a series of never-ending automatic revenue cuts based on arbitrary targets. This formula is harmful to Georgia’s growth, especially if coupled with House Bill 238’s proposal […]
Georgia Budget & Policy Institute: Slashing Income Tax Delivers Meager Benefit to Most, Jeopardizes Public Services
February 26, 2016
Georgia 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 […]
Georgia Budget & Policy Institute: Sensible Reforms Can Boost Undocumented Immigrants’ Tax Contribution
February 25, 2016
Undocumented immigrants in Georgia pay a significant share of state and local taxes each year and providing those families a path to legal status can increase their tax payments even more. That’s the key takeaway from a new analysis from the nonprofit, nonpartisan Institute on Taxation and Economic Policy (ITEP), which takes a close look […]
The Signal: Fighting for an education: Georgia student organizations band together for the admittance of undocumented students
January 12, 2016
“Opposition to allowing DACA students in-state tuition tends to come in the form of a few arguments: doing so is a burden on taxpayers, illegal and the undocumented will have problems finding jobs if their status hasn’t changed by graduation are a few. However, according to the Institute on Taxation & Economic Policy (ITEP), Georgia’s […]
Georgia Budget and Policy Institute: Welcome Newcomers to Build a Stronger Georgia
December 18, 2015
“Immigrant taxpayers contribute to Georgia’s bottom line. As immigrants start businesses, buy homes, earn wages and spend disposable income at local businesses, they generate considerable state and local tax revenue regardless of citizenship status. Georgia immigrants as a whole contributed nearly $1.8 billion in state and local taxes in 2012, the most recent year available. […]
