ATLANTA – State Representative Mike Cameron (R-Rossville) commends Governor Brian 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 for delivering on his promise to return Georgia’s tax dollars back into the pockets of its citizens,” said Rep. Cameron. “Thanks to Georgia’s thriving economy and the governor’s commitment to supporting business-friendly practices, I will be proud to support this much needed initiative next session that will bring further relief to families across the state.”
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 Mike Cameron represents the citizens of District 1, which includes Dade County and portions of Walker County. He was elected to the House of Representatives in 2020 and currently serves as Vice Chairman of the Human Relations & Aging and the Secretary of the Interstate Cooperation committee. He also serves on the Appropriations Subcommittee on Human Resources and the Agriculture & Consumer Affairs, Budget and Fiscal Affairs Oversight, Industry and Labor committees.
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