Georgia’s state tax collections aren’t growing as fast as they were several years ago, but that doesn’t mean Gov. Brian Kemp and lawmakers won’t have room for new spending.
That’s because the Republican governor, who sets the ceiling on how much lawmakers can spend, has set the revenue estimate so low that Georgia is again on track to run a multibillion-dollar surplus. Pay increases for public employees and teachers, more spending on health and education and more tax breaks could all come out of that surplus when state lawmakers convene Monday for their 2024 session.
And then there are the surpluses of years past. Georgia has $11 billion in cash generated by surpluses over three years, in addition to a legally designated $5.4 billion rainy day account. Republicans say they don’t want to make any ongoing commitments with the $11 billion, but big hunks of that money could be spent to expand highways, renovate state buildings and pay down debts.
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