ATLANTA, Ga. (Atlanta News First) – For the third year in a row, Georgia lawmakers accelerated the state’s income tax rate drop.
House Bill 111, which passed the Senate on Thursday, is the latest speeding-up of income tax cuts that could put more money in the pockets of taxpayers in coming years.
Lawmakers and Gov. Brian Kemp have expressed a desire to get the state’s income tax rate to 4.99% by 2029 or possibly even earlier. Thanks to a nearly $16 billion surplus, lawmakers felt confident speeding up the drops and hopefully letting Georgians keep more of their income…