March 25, 2010

Proposed Repeal of Refundable Low Income Credit Would Hurt the Poorest Georgians

report

Earlier this week, the tax writing committee in the Georgia House of Representatives quietly approved a bill, HB 1219, that would increase Georgia taxes by about $20 million a year by paring back a tax credit that only affects the very poorest Georgians. The bill’s proponents have repeatedly implied that the beneficiaries of the existing credit pay no taxes, so the credit amounts to a “handout.” But in fact, the Low Income Credit offers a valuable offset to the sales, excise and property taxes that loom largest for low-income families.

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