ATLANTA – Today, Speaker Jon Burns (R-Newington) held a press conference to announce a package of proposed legislation that would bring major tax relief to all Georgians and their families.
“Right now, there is no more important issue impacting Georgia families than higher prices as a result of President Biden and Washington’s 40-year high inflation,” said Speaker Burns. “Working together with Governor Kemp, we have created the Georgia economic success story—one of more jobs, better pay, lower taxes, historic economic development projects and the title of best state to do business in for ten years in a row—all while not only balancing our budget, but generating a historic $16 billion surplus for our state. With today’s announcement, we are doubling down on returning more money to Georgia taxpayers and delivering economic relief by lowering taxes for parents, homeowners, businesses and all families across our state.”
First, State Representative Lauren Daniel (R-Locust Grove) will sponsor legislation that would increase the child tax deduction from $3,000 to $4,000. With rising childcare costs, this legislation would allow for an extra $1,000 deduction per child, which could help alleviate some of those costs for parents.
Next, State Representative Matt Reeves (R-Duluth) will sponsor legislation that would double the homestead exemption from $2,000 to $4,000—delivering important relief to homeowners across the state.
Third, Chairman of the House Committee on Ways and Means Shaw Blackmon (R-Bonaire) will sponsor legislation that would remove the cap on the Revenue Shortfall Reserve, which would allow the state to save responsibly, build its reserves and provide more taxpayer relief to Georgia families both in the short-term and the long-term.
Finally, the Governor’s Floor Leader Lauren McDonald (R-Cumming) will sponsor legislation that would continue building on the House-led historical tax cut by accelerating the cut to the state income tax from 5.75 percent to 5.39 percent—which would return another $1 billion to Georgia taxpayers.
All four of these bills will be filed with the Clerk of the House today.
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Speaker Jon Burns (R-Newington) is Georgia’s 75th Speaker of the House of Representatives. He represents the 159th legislative district of Georgia that includes Screven County and portions of Effingham and Bulloch Counties.