It took eight days for a $1 billion tax cut to transform from an idea announced at a press conference to a measure that won passage in the Georgia House.
Now it’s in the state Senate’s hands.
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Kyle Wingfield, president and CEO of the right-leaning Georgia Public Policy Foundation, said an independent analysis done for his group said a flat tax with lower rates would promote economic activity and investment, creating roughly 21,000 more jobs after five years.
If HB 1437 wins final passage, it wouldn’t take effect until 2024. That would give budget writers time to figure out how to make up for the loss of tax revenue.
