Peach Tree Times

Augusta, GA – Governor Brian P. Kemp, accompanied by First Lady Marty Kemp and other state leaders, signed HB 1015 into law today, accelerating the largest state income tax cut in Georgia history. The signing ceremony took place in Augusta, where Governor Kemp highlighted the significance of the tax cut package.

The tax cut package, sponsored by Representative Lauren McDonald and co-sponsored by several other legislators, accelerates the reduction in the state income tax rate. Governor Kemp explained that this move will result in substantial savings for Georgia taxpayers. The Office of Planning and Budget estimates savings of approximately $1.1 billion in 2024 and around $3 billion over the next decade.

Governor Kemp emphasized the stark contrast between Georgia's approach to taxes and that of Washington D.C., stating, “Washington D.C. politicians are currently working to raise taxes on hardworking Americans, but here in Georgia we are keeping to our commitment to grow our economy and opportunity for the people of our state, not government.” He also highlighted the impact of conservative budgeting and a pro-growth environment, ensuring that more money remains in the pockets of hardworking Georgians.

In addition to HB 1015, Governor Kemp signed several other bills into law, including HB 1023, which lowers the corporate income tax rate to align with the individual income tax rate, further supporting a business-friendly environment in the state.

HB 581, HB 1021, and SB 496 were also signed into law, each addressing different aspects of taxation and property regulations in Georgia. Governor Kemp expressed his gratitude to all those involved in crafting and passing these bills, acknowledging their efforts in advancing the state's economic and fiscal policies.