Quantcast

ATL Standard

Thursday, December 26, 2024

Georgia plans third special tax refund amid economic challenges

Webp dr74cijud0no4hqgurfw7ml6dquk

Governor Brian Kemp (2022-2026) | GOVERNOR BRIAN P. KEMP OFFICE of the GOVERNOR

Governor Brian Kemp (2022-2026) | GOVERNOR BRIAN P. KEMP OFFICE of the GOVERNOR

Governor Brian P. Kemp, alongside First Lady Marty Kemp, Lieutenant Governor Burt Jones, Speaker of the House Jon Burns, and members of the Georgia General Assembly, has announced a plan to issue a third special tax rebate to Georgia taxpayers. This initiative aims to return over $1 billion through one-time refunds similar to previous ones: $250 for single filers, $375 for head-of-household filers, and $500 for married couples filing jointly.

"Inflation may have fallen, but high prices are still here and weighing down hardworking Georgians every time they go to the grocery store, the gas pump, and so many other places in our daily lives," said Governor Brian Kemp. "While bad policies coming out of Washington, D.C. are still hurting America's families, here in Georgia we're working to give our people relief."

This marks the third such rebate package from Governor Kemp and the Georgia General Assembly within three years. It follows an earlier tax cut package that accelerated what is described as the largest state income tax cut in Georgia's history.

Lt. Governor Burt Jones expressed support for these measures by stating: "Under our state's strong conservative leadership, we've balanced the budget every year while lowering our income tax rate and returning billions of dollars to taxpayers." He further emphasized his commitment to reducing taxes annually with cooperation from Governor Kemp and Speaker Burns.

Speaker Jon Burns highlighted Georgia's fiscal achievements by noting a "$16 billion budget surplus" which has allowed investments across sectors while also providing tax cuts. He stated: "The House is looking forward to working alongside Governor Kemp, Lieutenant Governor Jones, and members of the General Assembly in 2025."

The announced rebates will not be considered taxable income under state law. Taxpayers need only file their individual income tax returns for 2023 and 2024 to qualify.