Taxes in Georgia fall in April, but budget picture still bright

Georgia remains on track for another budget surplus, even after the state’s tax revenues fell in April. The state has collected $27.8 billion in General Fund revenue through April, according to figures released Tuesday by Gov. Brian Kemp. That’s only about 1% more than last year, with revenue growth slowing down after running red hot during the pandemic.

Overall, though, it appears Kemp, who by law sets a limit on state spending, has again deeply underestimated how much tax revenue the state will collect. While some Republicans want deeper cuts in taxes, GBPI believes the money would be better spent shoring up or expanding government services.

“I think that it’s very clear that these revenue estimates are extremely conservative,” Kanso said. “And in effect, what that means is that we are artificially constricting the state’s capacity to meet the needs of Georgians.”

Read the full article on Fox 5 ATL.

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