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