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Sensible Tax Change to State Income Tax Would Raise $450 Million
Georgia is one of a few states that allows a deduction for state income taxes for filers who itemize. Repealing it would bring in an estimated $450 million, which in K-12 education alone, could have prevented the six furlough days and additional cuts to the education funding formula in the amended budget. Repealing it prevents the current inequitable decrease in the effective tax rate for Georgia taxpayers who itemize compared to those who do not.
Posted:
3/11/2010
Category:
Budget, Taxes,
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State Budget Facts: Georgia Has Many Revenue Options Other Than Deep Cuts
Georgia Has Many Revenue Options Available: Lawmakers should avoid harming Georgia’s economy more by slashing vital services and decimating state government
Posted:
3/3/2010
Category:
Budget, Taxes
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State Budget Facts: Spending Cuts Harm Georgia’s Economy More Than Targeted Tax Increases
Lawmakers should close the deficit and protect local economies by raising more revenues: “It is important not to crush state budgets by relying solely on spending cuts,” said Zandi of Moody’s
Economy.com.
Posted:
3/1/2010
Category:
Budget, Taxes,
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Fact Sheet: Rebuilding Georgia's Rainy Day Fund is Key to Long-Term Budget Stability
Over the next three to five years, the state needs between $1.5 billion and $2 billion in surpluses to rebuild the Revenue Shortfall Reserve (RSR). In order to do so, lawmakers should take a balanced approach to state budgeting that includes additional revenues.
Posted:
2/12/2010
Category:
Budget, Taxes
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Fact Sheet: Why Revenues are Falling and What Georgia Can do About It
The state budget deficit is due to a lack of revenues. State
revenue collections, as a percentage of personal income, have
declined dramatically over the past 10 years. As Georgians’ incomes have increased, the amount the state
collects has not kept pace.Without new revenues, Georgia is facing an additional $2.6 billion deficit in FY 2012, according to the governor.
Posted:
2/12/2010
Category:
Budget, Taxes
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Fact Sheet: Deep Cuts are NOT Georgia's Only Option
Using a more balanced approach to budgeting would reduce the cuts, such as budgeting additional revenues through increasing the cigarette tax,enacting a new top income tax rate, improving
tax collections, suspending or ending tax breaks, increasing fees, and closing corporate loopholes. Without new
revenues, Georgia faces an additional $2.6 billion
deficit in FY 2012, according to the governor.
Posted:
2/12/2010
Category:
Budget, Taxes,
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Balancing the State Budget With Federal Stimulus Funds
Georgia is utilizing $1.44 billion in federal ARRA funds this year, despite drastic cuts and using almost all reserve funds. It also has the #8th worst deficit in the nation, yet it is one of the few states that did not raise revenues strategically; it only cut. These funds, which have saved or created thousands of jobs, are set to expire. Enhanced Medicaid funding also is, the report recommends phasing it out instead.
Posted:
12/7/2009
Category:
Budget, Taxes, Recovery Act
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Improving the Transparency and Adequacy of Georgia’s User Fees
There are hundreds of user fees. Currently the state subsidizes many of the services with tax revenue because the fees paid by the user do not cover the full cost. The Georgia Budget & Policy Insitute recommends that the state implements an annual fee review and request similar to what Vermont uses.
Posted:
11/18/2009
Category:
Taxes,
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Fiscal Year 2010 Hole Gets Even Deeper
Due to the continued weakness of the economy during the first month of the fiscal year, the governor ordered steps to cut the budget by an additional $940 million. A contingency plan is in place to cut public services by another $320 million as revenues continue to decline into autumn. These include education, public health, public safety and other vital services on which Georgians depend.
Posted:
11/9/2009
Category:
Budget, Taxes,
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Solving Georgia’s Fiscal Crisis Requires More Thoughtful Measures Than Cutting Public Structures
This brief highlights the balanced approach to deficit reduction used by other states. Raising revenues during recessionary periods has been an accepted, common and effective practice during the past 30 years. Temporary and permanent tax increases are efficient and accepted methods to use during recessionary periods. Two-thirds of states have raised revenues to bring needed budgetary relief.
Posted:
9/11/2009
Category:
Taxes,
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Show Us the Money: Full Disclosure Needed on Tax Breaks
As Georgia decides how to respond to the current fiscal crisis, all sources of spending must be on the table.
Posted:
11/1/2004
Category:
Budget, Taxes,
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Tax Reform and Modernization in Georgia: The First Steps
This report discusses various tax changes that would help bring fairness, equity and adequacy to the current tax structure.
Posted:
2/7/2005
Category:
Taxes
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Analysis of HB 5: Sales Tax Holiday
Posted:
2/11/2005
Category:
Taxes
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Don't Tax and They Will Come? The Questionable Link Between Corp. Income Tax & Economic Development
This report looks at the link between state corporate incomes taxes and economic development. Research on the outcomes of connecting corporate income taxes and economic development does not offer support for the use of taxes as a tool for development.
Posted:
7/18/2005
Category:
Taxes
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The Truth About TABOR: What it Would Mean For Georgia
This report discusses the conceptual flaws of TABOR, the effects of TABOR in Colorado, tax and spending trends in Georgia, and the possible effects TABOR might have in Georgia.
Posted:
9/12/2005
Category:
Taxes
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Elimating the Property Tax for Education: Analysis of HR 58
This brief highlights tax policy issues concerning HR 58, and highlights alternative options for both reducing property taxes and increasing state funding for education.
Posted:
11/7/2005
Category:
Taxes
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Fair Taxes for Low-Income Working Families: A Georgia Earned Income Tax Credit (EITC)
This policy brief evaluates the need for a Georgia EITC and provides design and cost considerations.
Posted:
12/5/2005
Category:
Taxes, Family Economic Security
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Undocumented Immigrants in Georgia: Tax Contributions and Fiscal Concerns
This report estimates the tax contributions of undocumented immigrants in Georgia.
Posted:
1/19/2006
Category:
Taxes
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Adding Up the Fiscal Impact: 2005 and 2006 Legislative Session Tax Bills
Posted:
4/6/2006
Category:
Taxes
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Doing Better: Fair and Adequate Tax Reform in Georgia
This report discusses and quantifies various tax reform options that would improve the fairness and adequacy of the Georgia Tax System.
Posted:
8/21/2006
Category:
Taxes
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A Look at the Property Tax
This report provides an overview of the property tax, with a cautionary tale from South Carolina's property tax reform experience.
Posted:
1/15/2008
Category:
Taxes
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A Place to Start Scaling Back on Tax Breaks: House Bill 100
In light of the over $2 billion revenue shortfall and the painful cuts to vital services, tax breaks - including the student scholarship organization tax credit - need to be scaled back. Why should tax credits that subsidize private school tuition be spared the chopping block when many state services that are proven cost savers are being scaled back?
Posted:
2/13/2009
Category:
Taxes
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Adding Up The 2009 Fiscal Notes
The House of Representatives passed 16 tax break bills that would result in a revenue decline of $228 million in FY 2010 and $614 million in FY 2012, according to the official fiscal notes on the bills. The House of Representatives also passed 3 revenue-raising bills which would increase revenues by $315 million in FY 2010, $330 million in FY 2011, and $301 million in FY 2012.
Posted:
3/24/2009
Category:
Taxes
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Adding Up the 2009 Fiscal Notes: Tax Bills Passed by the House and Senate for Gov's Sig or Veto
If Governor Perdue signs all of the tax bills passed by the Georgia House of Representatives and Senate, state revenues will decline by an additional $116 million in FY 2010 and more than $1 billion in FY 2012. Passed 16 tax cuts and 2 ways to raise revenue.
Posted:
4/17/2009
Category:
Taxes
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Adding Up the Fiscal Impact: 2005 and 2006 Legislative Session Tax Bills
Posted:
4/6/2006
Category:
Taxes
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Adding Up the Fiscal Notes 2008: Final Tax Bills After Governor's Vetoes
This policy brief quantifies the fiscal impact of all the tax bills passed by the General Assembly during the 2008 legislative session.
Posted:
5/23/2008
Category:
Taxes
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Adding Up the Fiscal Notes, 2007
This report highlights the final tax bills passed in 2007, after the Governor's vetoes.
Posted:
5/4/2007
Category:
Taxes
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Adding Up The Fiscal Notes: 2005-2008
Between 2005 and 2008, 35 tax bills were passed and signed into law with expected revenue consequences for the current fiscal year. The combined effect of these tax bills will be an estimated $291 million state revenue loss in the current fiscal year and $333 million in FY 2010.
Posted:
2/13/2009
Category:
Taxes
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Adding Up the Fiscal Notes: Tax Bills Signed into Law by Governor after the 2009 Legislative Session
Georgia will lose $99 million in state revenues in FY 2010 (beginning July 1, 2009) and $35 million in FY 2011 due to 17 bills passed by the House of Representatives and Senate and signed into law by the governor.
The governor prevented significant revenue loss by vetoing House Bill 481 (the so-called JOBS Act), which would have decreased state revenues by $1.5 billion over the next three years.
Posted:
5/15/2009
Category:
Taxes
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Analysis of HB 195: Senior Citizen Income Tax Cut
Posted:
2/12/2007
Category:
Taxes
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