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Senate Finance advances bill to accelerate Georgia individual income tax cuts to 5.19%
Summary
The Senate Finance Committee voted to advance HB 111, a governor-sponsored bill that accelerates scheduled reductions in the state individual income tax rate from 5.39% to 5.19%, with a recorded committee tally of 9–2.
Representative Michelle Hung, the bill sponsor and governor’s floor leader, presented House Bill 111 to the Senate Finance Committee and said the measure “will accelerate the tax cut for Georgia’s individual income tax.”
The bill shortens the timetable for previously enacted rate reductions. Hung said the prior program—established by a 2022 law and accelerated in 2024—had already reduced the top rate from 5.49% to 5.39%. HB 111 would move the rate to 5.19% earlier than the statute’s original schedule.
The move, Hung said, was included in the current budget and is possible because of conservative budgeting and a larger-than-expected revenue balance. “This tax cut has already been included in our budget. We’re able to meet all of our expenses and crucial needs,” Hung said.
Committee…
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