By allowing ads to appear on this site, you support the local businesses who, in turn, support great journalism.
Georgia House leaders back plan for another income tax cut
Georgia's state Capitol in Atlanta. - photo by Associated Press

ATLANTA (AP) — Georgia House Speaker David Ralston is backing a legislative proposal unveiled Monday to set the state’s personal income tax at a flat rate of 5.375%.

The General Assembly voted to cut the state’s top income tax rate from 6% to 5.75% in 2018, and a further cut to 5.5% was planned for this year.

“In 2018, we promised Georgians meaningful tax relief, and this is the second step in delivering on that promise,” Ralston, a Republican from Blue Ridge, said in a statement.

If passed by both chambers and signed into law, the proposal would go into effect Jan. 1. Its backers estimate that the proposal would save taxpayers in Georgia approximately $250 million a year.

The proposal would institute a new income tax credit for families meant to offset the flattening of Georgia’s tax brackets, according to the statement. It would also triple the adoption tax credit from $2,000 to $6,000, a plan earlier proposed by Republican Gov. Brian Kemp.

The legislation is sponsored by state Rep. Brett Harrell, a Republican from Snellville. Harrell is chairman of the House Ways and Means Committee.

Friends to Follow social media