Peach Tree Times

The second week of the legislative session, known as "Budget Week," commenced with Governor Brian Kemp presenting a proposed budget to the General Assembly. The proposal is detailed in a 390-page report outlining increases for the 2025 budget. Various agencies presented their budget requests during joint Senate and House Appropriations Committee meetings. Following this, the House passes an appropriations bill for governmental spending in the upcoming year. The Senate then makes adjustments, and any differences are resolved by a joint conference committee before sending the final version to the Governor for approval.

Georgia's state budget has grown steadily over the past 15 years, reflecting economic expansion and increasing public service demands. In Fiscal Year (FY) 2010, during the Great Recession, Georgia's budget was about $17.4 billion. By FY 2026, it had more than doubled to $37.71 billion, including approximately $22.46 billion in federal funds.

Governor Kemp proposes allocating $20.33 billion (53.9%) to education, $8.76 billion (23.2%) to healthcare, $3.05 billion (8.1%) to public safety, and $2.78 billion (7.4%) to transportation in his budget plan.

Georgia maintains economic stability through its commitment to a balanced budget requirement that prevents excessive debt accumulation and promotes long-term financial health for citizens: "Unlike the federal government... Georgia is constitutionally required to balance its budget every year." This approach enhances Georgia’s credit rating and fosters public confidence in financial management.

The state's Revenue Shortfall Reserve (RSR), or "rainy day fund," reached its statutory cap of 15% of prior year's revenue by FY 2023, totaling $5.4 billion: "This financial cushion allows the state to weather economic downturns without resorting to drastic spending cuts or tax increases." Additionally, Georgia holds over $11 billion in undesignated reserves beyond this fund.

In contrast with federal spending practices under recent administrations: "It’s important to highlight...both political parties are guilty of irresponsible budgeting at the federal level." As of 2024, national debt exceeded $35 trillion with annual deficits contributing over $1 trillion annually.

Senator Bill Cowsert serves as Chairman of the Senate Committee on Regulated Industries and Utilities representing portions of Barrow County among others within his district boundaries.