Kemp seeks $1.6B in Georgia tax rebates worth $250 or $500


Georgia Gov. Brian Kemp wants to use $1.6 billion of the state’s $2.2 billion in spare cash to give rebates in April on state income taxes.

The Republican told the Georgia Chamber of Commerce on Wednesday that he wants to give a $250 rebate to every single person filing state income taxes, and $500 to every household filing jointly. Kemp also wants to cut fees at universities, bolster HOPE scholarships and end state income taxes on military retirement income.

The tax rebates would be paid from the huge budget surplus Georgia accumulated in the budget year ended June 30, when tax revenues propped up by federal stimulus far exceeded the low expectations that led lawmakers to adopt a constrained spending plan. Even after filling Georgia’s rainy day fund to its legal limit of $4.3 billion, the state had $2.2 billion in cash left over.



Source link

admin

Read Previous

History-Making Quarters Featuring Maya Angelou Ship Out To Banks Across US

Read Next

Lizzo Flaunts Her Flawless Face While Recovering From Major Hangover

Leave a Reply

Your email address will not be published. Required fields are marked *