ATLANTA – State Representative Gerald Greene (R-Cuthbert) today announced his support for House Bill 918, legislation that would change Georgia’s tax code by cutting individual and corporate state income taxes. HB 918 passed the House of Representatives with a vote of 134-36 on Thursday, Feb. 22, 2018, and will now go to the Senate for consideration.
“This critical measure will save Georgians millions of dollars this year alone, and I’m proud to support HB 918,” said Rep. Greene. “HB 918 is a one of the largest cuts in state income tax in Georgia’s history, and this significant measure is a major win for our state.”
HB 918 would double the state standard deduction for Georgia taxpayers for all filing statuses, effective Jan. 1, 2018, and would reduce the income tax rate for individuals and businesses from 6 percent to 5.75 percent, effective Jan. 1, 2019. The legislation would further reduce the tax rate to 5.5 percent, effective Jan. 1, 2020, and would require approval of the General Assembly and signature of the governor in order to take effect. Furthermore, the bill would eliminate the sales tax on jet fuel to help Georgia be more competitive and encourage airlines to fly additional direct flights from Georgia to destinations around the globe. Finally, this tax proposal would also address the state revenue projections resulting from the recent Federal Tax Act.
For more information on HB 918, please click here.
Representative Gerald Greene represents the citizens of District 151, which includes Calhoun, Clay, Early, Quitman, Randolph, Stewart, Terrell and Webster 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. He also serves on the Appropriations Subcommittee on Public Safety and the Economic Development & Tourism, Public Safety & Homeland Security, Retirement and Rules committees.
###