Georgia lawmakers currently face an opportunity to better fund core services that promote economic opportunity or enact broadly popular tax cuts for low- and middle-income Georgians, but they are instead choosing to advance legislation that would primarily cut taxes for the wealthy. House Bill 1437 would even further shift the tax code in favor of the wealthiest due to the package’s proposed flat personal income tax rate and a mammoth price tag in excess of $1 billion per year that threatens to jeopardize funding for public education and health care.
Certain provisions of the legislation—such as raising the standard exemption offered to all taxpayers and eliminating most itemized deductions for personal income taxes—would offer positive benefits to Georgia families if isolated. Unfortunately, the package tilts significantly toward top earners because of the inclusion of a flat tax that increases the legislation’s cost by approximately $645 million annually.
This legislation, as written, could jeopardize our ability to fund our public education system, our health care system and so much more. Lawmakers must reject this measure and focus on enacting tax measures that rebalance the tax code, such as an Earned Income Tax Credit (or Georgia Work Credit) that would put money in the pockets of Georgia’s low- and middle-income families, rather than focusing the state’s limited resources on further enriching top income earners.
There are two ways for you to take action!
Organizations: Sign on to this letter by March 21