ATLANTA (February 1, 2013) – Sen. Brandon Beach (R-Alpharetta) is co-sponsoring Senate Resolution 8 in the State Senate. SR 8 is a proposal that would create a constitutional amendment to phase out the Georgia State Income Tax. The resolution is now in the Senate Finance Committee where it is under consideration.
“In order to continue developing Georgia’s economic competitiveness and promoting job creation, we must move toward eliminating the income tax,” said Sen. Beach. “I intend on working diligently to pass this important resolution which will allow hard working Georgians to take home more of their pay check.”
The Georgia income tax rate is 6 percent. Several states do not have an income tax including Florida, Tennessee, Texas, Wyoming, Washington, New Hampshire, Nevada and Alaska. Other states have the abolition of their state income tax under consideration, including North Carolina, Louisiana and Nebraska.
If approved by Georgia voters, SR 8 would phase out the income tax completely by the year 2027. This process would be gradual, reducing the tax rate by .5 percent every year until the income tax is eliminated.
Sen. Josh McKoon (R-Columbus) proposed the resolution and other sponsors include Sen. John Albers (R-Roswell), Sen. Butch Miller (R- Gainesville), Sen. Steve Gooch (R- Dahlonega), Sen. Judson Hill (R-Marietta), Sen. Chuck Hufstetler (R-Rome), Sen. Mike Dugan (R-Carrollton), Sen. Hunter Hill (R-Smyrna) and Sen. Barry Loudermilk (R- Cassville).
Amendments to the Georgia Constitution may be introduced in either the House of Representatives or the Senate. An amendment must be approved by a 2/3 majority of each legislative chamber in order for it to be placed on the ballot for voter approval.
RELEASE
For Immediate Release:
February 1, 2013
For Information Contact:
Jennifer Yarber, Interim Director
Emily Williams, Communications Associate
Emily.Williams@senate.ga.gov
404.656.0028