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Governor-backed bill would accelerate flat income tax cut to 4.99%; members seek cost details
Summary
A governor-backed bill to speed the state's flat income tax cut to 4.99% drew extended questioning in committee over cost, triggers and regressivity; the sponsor said the state's surplus and rising revenues make the earlier cut feasible and details would be worked out offline.
Leader Wade introduced House Bill 1001 as the governor's priority to accelerate the scheduled reduction of Georgia's flat income tax rate to 4.99 percent three years earlier than planned. "This is the governor's priority bill to lower income taxes in Georgia," the sponsor said when presenting the measure and invited questions from committee members.
Members pressed the sponsor on the bill's distributional effects, fiscal triggers and interactions with money already allocated in the supplemental…
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