Georgia Governor Kemp Proposes New Income Tax Rebates Amid Surplus

Governor Brian Kemp and GOP leaders aim to issue tax rebates from Georgia's $19.1 billion cash reserves, pending legislative approval.

The proposed rebates offer up to $250 for single filers, $375 for heads of households, and $500 for married couples filing jointly.
The initiative follows similar rebates in 2022 and 2023, costing approximately $1.1 billion each time.
Georgia's financial reserves have grown due to underestimated tax revenues, now totaling over $19 billion.
Democrats criticize the move as a political strategy, arguing it diverts funds from essential services like Medicaid and education.
Economists warn that while intended to combat inflation, such tax cuts could inadvertently increase price pressures.