A plan to cut Georgia state income taxes by more than $1 billion passed the state House Wednesday on a 115-52 vote, with a significant number of Democrats backing the plan despite findings that the changes would raise taxes on more than 500,000 Georgians and that overall benefits are tilted toward the most wealthy taxpayers.
House Speaker David Ralston and other Republicans supporting House Bill 1437 say it simplifies the state’s tax system while providing relief. It would create a flat state income tax with a 5.25% rate, raise the amount of income exempt from taxation, and eliminate many deductions.
“We settled in on a proposal that is simple and fair and allows Georgians to keep a larger portion of their hard-earned money,” said House Ways and Means Committee Chairman Shaw Blackmon, a Bonaire Republican.
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