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Tax cut sails through Georgia House; findings show big boost to rich

In the shadow of the Georgia State Capitol, the entire state is bracing for an election in which the outcome of two U.S. Senate runoff races will determine whether Democrats or Republicans will control the U.S. Senate.
Posted at 3:11 PM, Mar 09, 2022
and last updated 2022-03-09 15:11:55-05

ATLANTA (AP) — A plan to cut Georgia state income taxes by more than $1 billion has passed the state House.

Republicans supporting House Bill 1437 on Wednesday said it simplifies the state’s tax system while providing relief.

It would create a flat state income tax with a 5.25% rate, raise the amount of income exempt from taxation, and eliminate many deductions.

The measure moves to the Senate for more debate. The changes would begin in 2024.

An analysis by a group opposing the bill shows that the changes would raise taxes on more than 500,000 Georgians and that overall benefits are tilted toward the most wealthy taxpayers.