ATLANTA — Georgia Senate Republicans are behind a plan to eliminate state income tax in stages, but the state would have to get rid of the tax credits used to entice businesses to locate here.
Affordability is the No. 1 political buzzword this year. In the House, they want to give homeowners property tax relief.
In the Senate, they want to eliminate the state income tax - but that comes with a price tag.
Senate Republicans seem united behind their plan to eliminate the state income tax in Georgia.
In year one, lawmakers would eliminate state income tax for all taxpayers making under $100,000 a year, with a $5,200 tax break for those making more than that.
The plan calls for no one to pay state income tax eventually.
Vidalia Republican state Sen. Blake Tillery is behind the push.
He says the only way to do all that is to eliminate the tax credits given to businesses to move here to Georgia, businesses like Kia, Rivian and SK Battery
“Let’s use those taxes we’ve been able to create for being the No. 1 state for business for 12 years in a row and roll that savings into reducing the … income tax on our families that are making $100,000 or less, while still giving a savings to those who are making more than that number,” Tillery told Channel 2’s Richard Elliot.
Augusta Democratic state Sen. Harold Jones pushed back, concerned that eliminating tax credits also eliminates the child tax credit, the rural physician tax credit and others that benefit those in needs.
“This bill is extremely problematic. It impacts regular people. It’s not just about impacting political corporations. This bill decimates the middle class. It really has severe consequences,” he said.
In some procedural moves late this afternoon, the two Senate bills covering the income tax legislation were put onto two House bills. The Senate majority leader says that will expedite the process.
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