by Later this summer, a state Senate committee will meet for the first time to discuss ways to abolish Georgia’s income tax. On July 17, Lt. Gov. Burt Jones declared the committee’s formation.
The committee will be chaired by Vidalia Senator Blake Tillery. On Thursday, he gave a press conference at the state Capitol.
It has to do with competition. It has to do with economic liberty. According to Tillery, the main goal is to keep hardworking Georgians’ money in their pockets.
Changes will not occur overnight, according to the Republican from District 19.
“Over the last three years, you have witnessed us progress in that direction,” Tillery added. However, I believe 2018 is the year we demonstrate our intention to go to zero. Whether or not we go to zero is no longer up for debate. How we get to zero is now the question.
In 2025, the state’s income tax rate will be 5.19%. The state will have to increase sales or property taxes to compensate for the lost revenue, according to those who oppose the tax’s elimination. However, Tillery says the committee will turn to other states to find ways to fund the move.
Both chambers would need to approve legislation to eliminate the income tax before the governor could sign it into law.
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To investigate doing away with the state income tax, Lt. Gov. Burt Jones establishes a Senate committee.
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