North Gwinnett News

State Representative Jon Burns (R-Newington), supported by House Republicans, has proposed new legislation aimed at providing economic relief. The measures include increasing the child tax deduction, doubling the homestead exemption, removing the cap on the Revenue Shortfall Reserve, and hastening the state income tax cut. Lawmakers are optimistic that these tax relief proposals will help mitigate the financial impact of inflation and stimulate Georgia's economy.

In a press release issued by the Georgia General Assembly, Burns said: "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. 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."

According to another press release from the Georgia General Assembly, State Rep. Lauren Daniel (R-Locust Grove) intends to introduce legislation that would raise the child tax deduction in Georgia from $3,000 to $4,000. This would provide an additional $1,000 deduction per child to assist parents with childcare expenses. In a separate initiative, State Rep. Matt Reeves (R-Duluth) plans to sponsor a bill that would double the homestead exemption from $2,000 to $4,000. Additionally announced was Chairman Shaw Blackmon's (R-Bonaire) efforts to remove the cap on the Revenue Shortfall Reserve.

The same press release also revealed that State Rep. Lauren McDonald (R-Cumming) is sponsoring legislation aimed at accelerating Georgia's state income tax cut from 5.75 percent to 5.39 percent, which builds on the House-led tax cut. This is projected to return an additional $1 billion to state taxpayers.