Constitutional Amendment Prohibiting Increase in State Income Tax Receives Final Legislative Approval
ATLANTA (March 21, 2014) | Senate Resolution 415, a constitutional amendment prohibiting the Georgia General Assembly from increasing the state income tax above a set maximum marginal rate, received final approval from the Georgia Senate on Thursday, March 20, after passing the Georgia House on Tuesday, March 18, by a vote of 120 to 54. The resolution was proposed by Senate President Pro Tem David Shafer (R – Duluth), a longtime supporter of tax reform, and carried in the House by House Majority Whip Matt Ramsey (R – Peachtree City).
“If approved by voters this November, Georgia will be the only Southeastern state that constitutionally prohibits income tax increases,” said Sen. Shafer. “This measure will help Georgia compete, attracting business and encouraging job formation.”
Shafer praised Speaker David Ralston who cast the deciding vote in the House. The resolution required a 2/3 vote to pass.
As a constitutional amendment, SR 415 will go on the ballot in November 2014, allowing Georgia taxpayers to limit state income tax rates with the question, “Shall the Constitution of Georgia be amended to prohibit the General Assembly from increasing the maximum state income tax rate?” If approved, the state income tax would be capped at the maximum marginal rate as of January 1, 2015. The Georgia General Assembly would also be barred from imposing new state income taxes.
The Senate first approved SR 415 on February 24 by a vote of 42 to 11. The resolution was co-sponsored by every member of the Senate Republican Caucus.
FOR IMMEDIATE RELEASE
March 21, 2014
Jennifer Yarber, Director