ATLANTA – State Representative Gerald Greene (R-Cuthbert) commends Governor Brian P. Kemp’s recent announcement to introduce and pass legislation in the upcoming regular legislative session that would accelerate a decrease in the state individual income tax rate.
“I would like to thank Governor Kemp and my colleagues in the Georgia General Assembly for prioritizing the need to return tax dollars to the tax-payers,” said Rep. Greene. “Inflation has made it incredibly difficult for Georgians to make ends meet, and the governor’s proposal would bring much-needed financial relief to Georgia citizens. I look forward to reviewing this proposal in the new year and voting in favor of this measure when it come before the House.”
The governor’s proposal would amend House Bill 1437, legislation signed by Governor Kemp in 2022, which established a step down of 10 basis points in the income tax rate, starting in 2025 and for each taxable year thereafter until the rate reaches 4.99 percent. If the reduction was accelerated, the rate for Tax Year 2024 would decrease to 5.39 percent, rather than 5.49 percent previously set by HB 1437. This would mark a cut of 36 basis points from the Tax Year 2023 rate of 5.75 percent. It is estimated that Georgia taxpayers would see approximately $1.1 billion in savings in calendar year 2024 as a result of the proposed tax acceleration and the 26 basis-points reduction provided in HB 1437.
Representative Gerald Greene represents the citizens of District 154, which includes Baker, Calhoun, Clay, Early, Miller, Quitman, Randolph and Seminole counties, as well as portions of Dougherty County. He was elected to the House of Representatives in 1982 and currently serves as Chairman of the State Properties Committee and Vice Chairman of the House Appropriations Subcommittee on Economic Development. He also serves on the Economic Development & Tourism, Public Safety and Homeland Security, Retirement, Rules, Special Rules and Urban Affairs committees.
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