Category: Taxes

Tax Season is Easier This Year

By Brandon Arnold and Benita M. Dodd Tax season is a traditionally dreadful time of year for Americans. Nobody likes having to account for how much the Internal Revenue Service is reaching into our pockets. But this year, Americans across the country and in Georgia can take a breath of relief, knowing the benefits they’ve already started to experience because of tax reform are only going to get better. The federal tax law cut rates at every level of the income ladder, and in January the tax withholding calculations were adjusted so Americans started seeing those tax cuts show up in their take-home pay. Paychecks are larger. Companies across the country have issued bonuses for their workers. People have more… View Article
By Benita M. Dodd Georgia ranks an impressive No. 7 out of all 50 states in the 2017 Economic Freedom of North America report, released this week by the Georgia Public Policy Foundation in conjunction with Canada’s Fraser Institute. Georgia scored a total of 7.5 out of 10 in rankings on government spending, taxation and labor market restrictions. Based on 2015 data (the latest available), the Fraser Institute’s 13th annual report measures the degree to which the policies and institutions of states/provinces in the United States, Canada and Mexico support economic freedom. At the top in the United States is New Hampshire, scoring 8.3 out of 10. Ahead of Georgia were Florida and Texas (tied for No. 2, scoring 8.1),… View Article
By Adam N. Michel Adam N. Michel Tax reform is long overdue. The current tax code is suffocating job creation and holding down wages at home. At the same time, it’s giving American businesses far too many reasons to move overseas. Washington has not significantly changed the federal tax system in more than 30 years. Meanwhile, our major foreign competitors – friendly and otherwise – have made their tax schemes far more business- and worker-friendly. As a result, American businesses face one of the highest corporate income tax rates in the world – a rate that crimps their ability to pay higher wages and create more jobs. The good news is that lawmakers in Washington are mounting a serious effort… View Article
By Benita M. Dodd With politics and the weather in unusual and untimely states of flux in 2017, the 2017 Georgia Legislative Policy Forum was undoubtedly one of the most difficult to organize since the Georgia Public Policy Foundation established the event in 2010. Happily, the annual Forum produced some remarkable, practical solutions to policy challenges in Georgia. About 150 attendees attended the daylong session October 13 in Atlanta, learning from speakers about tax, health care and education reforms specific to Georgia. The morning keynote speaker, chief economist Jonathan Williams of the American Legislative Exchange Council, shared his optimism about the GOP framework proposed for federal tax reform, noting that it has been more than 30 years since President Reagan… View Article

Rate Cuts, Not Tax Cuts

By Jeffrey Dorfman Economists all agree that tax reform is pro-growth if it broadens the base (such as by eliminating deductions) while reducing marginal tax rates. There is less agreement on other aspects of the issue, such as which types of households should see tax cuts, whether a lower corporate rate would benefit workers or shareholders the most, and whether it would be a good idea for the government to bring in less tax revenue overall. Given all this, what type of tax reform should be our highest priority? In our current situation of low economic growth, the answer appears to be lower rates. Your marginal income-tax rate is the percentage you pay in taxes on your last (or next)… View Article
NEWS RELEASE For Immediate Release October 10, 2017 Contact: Benita Dodd, Georgia Public Policy Foundation benitadodd@georgiapolicy.org | (404) 256-4050  Foundation Joins Coalition Applauding Tax Reform Framework Atlanta – The Georgia Public Policy Foundation has joined a coalition of more than 30 state and national conservative and tax policy organizations applauding the Unified Tax Reform Framework as a promising vision for pro-growth tax reform.  In a letter hand-delivered today to every member of the U.S. House of Representatives, the coalition expressed support for tax reform legislation that will raise wages and take-home pay, incentivize domestic investment and level the playing field for American workers and job creators. “Recent polling shows Americans overwhelmingly support passing comprehensive tax reform, with 73 percent saying… View Article

Foundation Joins Coalition Urging Pro-Growth Tax Reform

GEORGIA PUBLIC POLICY FOUNDATION NEWS RELEASE For Immediate Release September 6, 2017 Contact: Benita Dodd benitadodd@georgiapolicy.org | (404) 256-4050  Foundation Joins Coalition Urging Congress to Pass Pro-Growth Tax Reform  Atlanta – The Georgia Public Policy Foundation joined a coalition of more than 20 leading state and national organizations calling on Congress to seize the opportunity to deliver transformative tax reform. In an open letter hand-delivered today to every member of the U.S. House of Representatives, the coalition highlighted the failures of the U.S. tax code and urged Congress to make the tax code simpler, fairer and with lower rates to help revitalize the nation’s middle class. “The outdated U.S. tax code, last overhauled more than three decades ago, has rendered… View Article
House Ways and Means Tax Reform Subcommittee Wednesday, February 22, 2017 Testimony of Kelly McCutchen, President, Georgia Public Policy Foundation  I would like to focus on four positive aspects of HB 329. Pro-Growth: An almost universally held principle of good tax reform is the goal of broadening the tax base and lowering tax rates. This bill does both. Simplification: This bill simplifies the Georgia Tax Code by collapsing six tax brackets into one flat rate. Economic Competitiveness: Lowering Georgia’s top marginal tax rate to 5.4 percent moves Georgia’s rate below that of seven states, including our neighbor North Carolina, which recently reduced its top tax rate of 7.75 percent to a flat rate of 499 percent.… View Article

Tough Choices on Tax Reform for Georgia

By Kelly McCutchen Tennessee just became the second state in U.S. history to eliminate its personal income tax. Florida and Texas do not have a personal income tax. With Georgia’s unsuccessful attempts over the last decade to shift to a more pro-growth tax structure by lowering its personal income tax, it’s worth asking the question: How do these states manage it? Do they spend less? Do other sources of revenue make up for lower income taxes? Or is it something unique that Georgia can’t duplicate? Georgia’s personal income tax brings in more than $8 billion a year, or $878 per capita. The challenge is to identify $878 per capita of spending cuts or other revenues to make up the difference.… View Article

Guide to the Issues: Tax Reform

Principles: Minimize the impact of taxes on economic growth. Taxes are necessary to fund core government services, but every additional dollar of taxes is a discretionary dollar taken away from a family. A decision to raise taxes is an explicit decision that a government program has a higher priority and importance than individual decisions. The private sector is the source of all wealth, and is what drives improvements in the standard of living in a market-based economy. Taxes should consume as small a portion of income as possible, should not interfere with economic growth and investment and should not place the state at a competitive disadvantage. Limit exemptions to encourage a broad tax base and low rates. Exemptions shift the… View Article

I wanted to publicly say how much I appreciate Georgia Public Policy Foundation.  For those of you that will be entering the Legislature or are relatively new you may not quite yet appreciate how much we rely on Georgia Public Policy Foundation’s research and work.  As you know we’re a citizen’s legislature.  We have very little staff. They have been an invaluable, invaluable resource to us.  To put this [Forum] on and the regular programs that they do throughout the year make us better at what we do. (At the 2012 Georgia Legislative Policy Forum.)

Speaker Pro Tem Jan Jones more quotes