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State economist says revenue growth is slowing; capital gains volatility complicates outlook
Summary
Georgia's state economist told appropriators that revenue growth has slowed: withholding and sales gains have moderated, corporate tax receipts have declined, and capital gains remain volatile — factors that make the effect of proposed rate cuts smaller in FY26 and push larger impacts into FY27.
State economist Bob Bushman briefed lawmakers on fiscal 2025 results and the near‑term revenue outlook, highlighting several forces shaping collections.
Bushman said personal income tax collections rose modestly despite prior rate cuts and that withholding has kept pace for now, but corporate income tax receipts and large one‑time capital gains are the key volatile elements.…
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