Leading Georgia Republicans are celebrating the recent passage of two income tax proposals, which are unanimously backed by the Senate Republican Caucus and are set to provide maximum relief for hardworking Georgians.
Originally sponsored by State Senator Blake Tillery (R-19), the proposals include Senate Bill (SB) 476 and SB 477. Both of these are set to reduce the state income tax, but at different rates. SB 476 would immediately reduce the income tax to 4.99%. SB 477 would reduce it to 3.99% by 2028.
SB 476 also eliminates a plethora of corporate tax credits and exempts individuals and married couples from paying it entirely within certain tax brackets. SB 477 functions similarly by increasing the exemption rate for individuals and married couples.
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Sen. Tillery highlighted the necessity of these bills, describing them as compensation for poor federal policy. To him, it’s evident how families still feel the strain of inflation and will benefit from any form of relief.
“Families still feel the squeeze of inflation and higher costs driven by bad federal policy, and the last thing they need is state government taking a bigger bite out of their paycheck,” Tillery explained. “By cutting income taxes, we’re giving people real relief and more control over their own money.”
Senate Majority Leader Jason Anavitarte (R-31) celebrated the passage of these bills as a result of Republican discipline and conservative budgeting.
“When Republicans first took control of state government, Georgia’s income tax rate was 6 percent, and it had been there for more than 30 years under Democratic leadership,” said Sen. Anavitarte. “Through years of disciplined, conservative budgeting, we’ve lowered that rate to 5.19 percent and returned billions of dollars to the people who earned it. Today is the next step in that mission.”
Lieutenant Governor Burt Jones (R-GA) is currently leading the charge of eliminating the income tax and celebrated the passage of these bills as a necessary step in finalizing his objective.
“The Senate is leading the effort to continue making significant cuts to our income taxes, while maintaining the fiscal soundness of our state,” Lt. Gov. Jones stated. “I look forward to working with the House and Governor on how to maximize tax relief and get an income tax cut over the finish line immediately.”
