ITEP Work in Action May 27, 2022
Georgia Budget and Policy Institute: New Tax Plan Risks State’s Long-Term Fiscal Health, Worsens Income and Racial InequitiesHouse Bill 1437, signed into law by Gov. Kemp after a final version emerged during the last hours of Sine Die 2022, sets Georgia on course to make fundamental changes…
ITEP Work in Action March 14, 2022
Georgia Budget and Policy Institute: House Proposes Massive Tax Cuts for Wealthiest, Slashing State RevenuesMembers of the Georgia General Assembly are considering legislation that would fundamentally change the structure of the tax code and result in disproportionately large tax cuts for the wealthiest while…
ITEP Work in Action October 6, 2021
Georgia Budget and Policy Institute: How Georgia’s Tax Code Contributes to Racial and Economic InequalityToday, state and local taxes consume a greater share of income earned by Georgians in poverty—who are more likely to be people of color—while the richest pay a far lower…
ITEP Work in Action February 26, 2021
Georgia Budget & Policy Institute: Georgia Tax Breaks Don’t DeliverIn addition to eroding the corporate income tax base and harming the state budget, in many cases, the state’s tax credit programs represent the transfer of Georgia taxpayer dollars to…
ITEP Work in Action April 15, 2020
GBPI: Implement Immigrant-Inclusive Policies During the COVID-19 CrisisImmigrants represent one in 10 Georgians and are critical to Georgia’s economy, with 31 percent of main street businesses owned by foreign-born Georgians and undocumented Georgians contributing $352 million in…
ITEP Work in Action February 12, 2020
GBPI: Georgia Leaders Face Choice Between Tax Cuts for High Income Earners and Funding Key State PrioritiesTwelve days into the 2020 session of the Georgia General Assembly, legislators voted to take a week-long break from regular business to allow extra time for deliberations over Georgia’s fiscal…
ITEP Work in Action August 12, 2019
Georgia Budget & Policy Institute: The Tax Cuts and Jobs Act in Georgia: High Income Households Receive Greatest BenefitsThis report offers the first comprehensive look at how the Tax Cuts and Jobs Act of 2017 (TCJA), in combination with Georgia’s enacted response, will impact the state budget and…
ITEP Work in Action March 5, 2019
Georgia Budget and Policy Institute: Georgia Work Credit Grows the Middle ClassA non-refundable Georgia Work Credit would cut state taxes for more than 700,000 lower and middle-income households by up to $475. The Institute on Taxation and Economic Policy estimates that…
ITEP Work in Action December 15, 2018
Georgia Budget & Policy Institute: Increase the State Tobacco Tax for Healthier Georgia
Georgia could raise more than $400 million a year to make critical investments for the health and well-being of Georgia residents by raising the cigarette tax by at least $1 per pack. Georgia has the third-lowest state cigarette tax rate out of the 50 states and the District of Columbia. At 37 cents per pack, it falls far below the national average of $1.72. Over the past decade, many states have increased tobacco tax rates as a way to raise new revenue while reducing smoking rates and the health care costs associated with smoking. Georgia has not increased its cigarette tax rate since 2003.
October 17, 2018
Georgia: Who Pays? 6th EditionGEORGIA Read as PDF GEORGIA STATE AND LOCAL TAXES Taxes as Share of Family Income Top 20% Income Group Lowest 20% Second 20% Middle 20% Fourth 20% Next 15% Next…
blog October 2, 2018
Twelve States Offer Profitable Tax Shelter to Private School Voucher Donors; IRS Proposal Could Fix This
A proposed IRS regulation would eliminate a tax shelter for private school donors in twelve states by making a commonsense improvement to the federal tax deduction for charitable gifts. For years, some affluent taxpayers who donate to private K-12 school voucher programs have managed to turn a profit by claiming state tax credits and federal tax deductions that, taken together, are worth more than the amount donated. This practice could soon come to an end under the IRS’s broader goal of ending misuse of the charitable deduction by people seeking to dodge the federal SALT deduction cap.
September 26, 2018
Tax Cuts 2.0 – GeorgiaThe $2 trillion 2017 Tax Cuts and Jobs Act (TCJA) includes several provisions set to expire at the end of 2025. Now, GOP leaders have introduced a bill informally called…
report June 27, 2018
The Other SALT Cap Workaround: Accountants Steer Clients Toward Private K-12 Voucher Tax CreditsOn May 23, 2018, the IRS and Treasury Department announced that they “intend to propose regulations addressing the federal income tax treatment of certain payments made by taxpayers for which…
blog May 22, 2018
Most States Have Raised Gas Taxes in Recent Years
An updated version of this blog was published in April 2019.
State tax policy can be a contentious topic, but in recent years there has been a remarkable level of agreement on one tax in particular: the gasoline tax. Increasingly, state lawmakers are deciding that outdated gas taxes need to be raised and reformed to fund infrastructure projects that are vital to their economies.
ITEP Work in Action March 15, 2018
Georgia Budget & Policy Institute: Lawmakers Approve Major Tax Plan, Still Reviewing Several Tax BreaksA range of tax bills are still in the pipeline at the General Assembly after lawmakers already approved a sweeping package of income tax cuts. Georgia’s 2018 General Assembly advanced…
ITEP Work in Action March 9, 2018
Georgia Budget and Policy Institute: All Georgians Stand to Lose from Immigrant Crackdown MeasureAnd Georgia immigrants contribute significant state and local tax revenue, including $352 million a year by undocumented immigrants as a whole and $66 million by Dreamers in particular. Read more…
ITEP Work in Action February 22, 2018
Georgia Budget and Policy Institute: Lawmakers Might Come to Regret Georgia’s Risky Tax PlanBill Analysis: House Bill 918 Substitute (LC 34 5383-ECS); Feb. 22, 2018 Georgia leaders are now rushing a massive tax package through the state’s General Assembly with limited debate and…
ITEP Work in Action February 16, 2018
Georgia Budget and Policy Institute: Governor’s Tax Plan Carries $1 Billion PriceGov. Nathan Deal’s administration introduced a multifaceted tax package on Feb. 13, 2018 designed to reduce state revenues by about $1 billion a year over the next decade. House Bill…
ITEP Work in Action February 1, 2018
Georgia Budget and Policy Institute: Immigrants Make Georgia Stronger and Better Every DayImmigrant 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…
ITEP Work in Action February 1, 2018
Georgia Budget & Policy Institute: People-Powered Prosperity
People-Powered Prosperity details a new vision for how state lawmakers can pursue strategies to help all Georgians thrive, as well as how the state can responsibly pay for it.
December 16, 2017
How the Final GOP-Trump Tax Bill Would Affect Georgia Residents’ Federal TaxesThe final tax bill that Republicans in Congress are poised to approve would provide most of its benefits to high-income households and foreign investors while raising taxes on many low-…
blog December 14, 2017
Private Schools Donors Likely to Win Big from Expanded Loophole in Tax Bill
For years, private schools around the country have been making an unusual pitch to prospective donors: give us your money, and you’ll get so many state and federal tax breaks in return that you may end up turning a profit. Under tax legislation being considered in Congress right now, that pitch is about to become even more persuasive.
report December 14, 2017
Tax Bill Would Increase Abuse of Charitable Giving Deduction, with Private K-12 Schools as the Biggest Winners
In its rush to pass a major rewrite of the tax code before year’s end, Congress appears likely to enact a “tax reform” that creates, or expands, a significant number of tax loopholes. One such loophole would reward some of the nation’s wealthiest individuals with a strategy for padding their own bank accounts by “donating” to support private K-12 schools. While a similar loophole exists under current law, its size and scope would be dramatically expanded by the legislation working its way through Congress.
December 6, 2017
How the House and Senate Tax Bills Would Affect Georgia Residents’ Federal Taxes
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.
November 14, 2017
How the Revised Senate Tax Bill Would Affect Georgia Residents’ Federal Taxes
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.