[GPB] Georgia's giant hill of money looms over state lawmakers as the 2023 session begins next Monday.
State government ended the 2022 budget year in June with $6.6 billion in surplus cash, even after it filled its savings account to the legal limit.
Gov. Brian Kemp has announced plans to spend more than $3 billion of the amount through a combination of one-time tax givebacks, with fellow Republican legislative leaders signaling support. But even that bonanza would leave about $3 billion that could be spent, saved or given away. And barring a notable economic disaster, the state is likely to run a surplus again in the current budget year.
| Given what’s coming down the pike, I think we can count on that economic disaster... or a long series of smaller economic discomforts that together equal the same thing. |
If Ga has a $6.6 BILLION surplus, shouldn't the Gold Dome be looking at adjusting the Tax Code? That is about $622 for every man, woman, child, baby and ?Trans-IT? in GA.
Or about $1,200 per each employed person in Ga
or 2.5 Weeks (40hrs wk) of working.
NOTE: While Ga. Gov. Kemp and lawmakers decide how to waste $6.6B in surplus Tax Revenue. The state of GA next week will also resume taxing gasoline at 29.1 cents per gallon and diesel at 32.6 cents per gallon.
So Hang on, fellow Georgians & related state customers of GA products. The ride and economy will get quickly bumpy. As it will cost more to made it, stock it, ship it and get it soon.