Kemp proposes $2B in tax cuts, rebates in final State of the State

Gov. Brian Kemp announced plans Thursday to put more than $2 billion back in the pockets of Georgians through tax cuts and rebates.

At his final State of the State address, Kemp proposed a plan to rebate $1.2 billion in income taxes this year, meaning single filers would receive up to $250 and married couples filing jointly would get up to $500.

“The reality is that too many of our citizens are still struggling to make ends meet, and everyday costs are still too high. Groceries, rent, insurance, clothes for the kids—it all adds up to more than it used to,” Kemp said to lawmakers. “With this rebate, my administration and this General Assembly will have returned over 7.5 billion dollars in surplus revenue to the taxpayers of our state over the last four years.”

Kemp said that Georgia’s state reserves will have more than $10 billion by the time he leaves office with the current fund holding $14.6 billion.

“There is no question the state of our state is stronger, more prosperous, and safer today than it was in January of 2019. But I want to be clear. This success, this “good news,” isn’t guaranteed. It doesn’t happen by default or accident. There’s more work to be done and more wood to chop to make sure Georgia continues to be the best place to live, work, and raise a family for generations to come,” he said.

Here are other items Kemp called for during his speech.

• An expedited income tax rate cut
• New spending for law enforcement retirement savings
• Funding for a needs-based scholarship program
• A proposal to distribute a one-time $2,000 bonus to state employees

Kemp also released his budget proposals Thursday, which included $46.4 million to cover the reduction of federal funding for the Supplemental Nutrition Assistance Program.