Threat to Georgia’s Finances Gains Steam as Constitutional Amendment to Slash State Income Tax Nears Crossover Day

Wesley Tharpe

Most Georgia families stand to lose if twin proposals to slash the state income tax stay on track to pass the General Assembly this year. Midnight Monday Feb. 29, or crossover day, is the target for supporters of a constitutional amendment to drastically shift the state away from a balanced revenue system that consistently delivers Georgia’s AAA bond rating. Crossover day is the last day for a bill to move from one legislative chamber to the other if it is to stand a chance of passing in 2016.

Read our short fact sheet on the proposed constitutional amendment and you’ll share our alarm over this plan that threatens to tie the hands of fiscally responsible lawmakers indefinitely. Our more detailed look at the companion legislation, HB 238, provides robust details to show how all but the very top Georgia income earners will get a bad deal from this legislation should it pass.

Nearly all Georgians will be better served if both pieces of legislation are left on the cutting room floor at the 2016 Legislature’s adjournment next month.

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