Overview
- A Republican-led Senate study committee voted 6-3 to adopt a report to end personal and business income taxes, targeting full repeal by 2032 for a levy that generates about $16 billion a year.
- Beginning in 2027, single filers would owe no tax on their first $50,000 and married couples on their first $100,000, which supporters say would remove liability for about two-thirds of filers.
- Sponsors outline roughly $3 billion annual funding steps, starting with $1.8 billion from the 2025 surplus and about $1 billion from shifting cash-funded projects to bonds, then relying on reductions to roughly $30 billion in tax credits.
- Backers say the approach would not raise the sales tax, create a statewide property tax, or require deep cuts to state services.
- Democrats on the panel opposed the report, warning of budget risks and distributional effects, and Gov. Brian Kemp has not said whether he supports the plan.