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Georgia Tax Cut Could Hit $2 Billion, but Maybe Not by 2029

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Georgia Tax Cut Could Hit  Billion, but Maybe Not by 2029


By JEFF AMY, Related Press

BONAIRE, Ga. (AP) — A significant state earnings tax reduce signed by Republican Georgia Gov. Brian Kemp as he seeks reelection may finally complete greater than $2 billion, however the reductions could solely occur by a 2029 goal date if state income holds up.

For Kemp, Tuesday’s signing was a tax-cutting triumph as he touted not solely the newly flat earnings tax, but in addition a $1.1 billion earnings tax refund and the zeroing out of practically $400 million in gasoline taxes for greater than two months.

“We’re doing our half to reduce the ache on individuals’s wallets right here in Georgia,” Kemp stated. “And immediately we are going to put into place a extra long-term system of reduction. I strongly imagine that authorities ought to take within the very least quantity potential wanted to serve the individuals correctly.”

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Kemp signed the tax reduce in former U.S. Sen. David Perdue’s hometown of Bonaire at a barbecue restaurant as soon as featured in a Perdue marketing campaign advert. Perdue is operating in opposition to Kemp for the Republican nomination for governor and early in-person voting begins Monday for the Might 24 major. Democrat Stacey Abrams awaits the winner.

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Home Invoice 1437 would create a flat earnings tax of 4.99% by 2029 or later. The present tax has a high fee of 5.75% with decrease brackets beneath there. The measure delivers a right away flat tax of 5.49% on Jan. 1, 2024.

After that, the measure requires the tax fee to fall one-tenth of 1% annually, reaching 4.99% by 2029. However tax cuts would pause any 12 months state income doesn’t develop 3%, any 12 months income is decrease than within the 5 earlier years, or any 12 months the state doesn’t manage to pay for in its financial savings account to cowl the fee.

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These necessities purpose to make sure there’s sufficient income for state providers. However pauses attributable to lagging income may convey stress to rethink the method or to bolster income by curbing enterprise tax breaks.

Home Methods and Means Committee Chairman Shaw Blackmon, a Bonaire Republican, stated Tuesday that Georgia would have met all three necessities in solely six of the final 12 years. It will have simply met the requirements within the 2021 finances 12 months, when revenues soared thanks partially to federal COVID-19 support that propped up spending and employment.

For his half, Perdue espouses progressively abolishing the complete state earnings tax, which contributes practically half of Georgia’s $30 billion in income. Republican Home Speaker David Ralston and others reject that, saying it might devastate state providers.

Weeks after it handed, Blackmon stated there’s nonetheless no official estimate for the reduce’s complete value. The liberal-leaning Georgia Finances & Coverage Institute initiatives a complete value of $2.04 billion.

The reduce would value about $450 million within the first 12 months. It will enhance the usual exemption on how a lot somebody may earn earlier than starting to pay taxes. A single taxpayer or head of family would get a $12,000 exemption instantly. Married {couples} submitting collectively would get an exemption that may develop to $24,000 by 2030. Taxpayers may deduct $3,000 for every little one or different dependent.

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That is an try and keep away from larger taxes on low-income earners, however the Georgia Finances & Coverage Institute’s Danny Kanso stated most advantages will go to the very best earners. A GBPI evaluation utilizing modeling by the Institute on Taxation and Financial Coverage exhibits 39% of advantages would movement to the highest 5% of Georgia tax filers — households making greater than $253,000 a 12 months. The underside 80% of households — making lower than $109,000 — would get 32% of advantages.

Georgia’s state and native taxes already take a bigger share of poor individuals’s earnings than wealthy individuals’s earnings. Kanso stated the reduce would make taxes much more regressive. Georgia Democratic Get together Chair Nikema Williams referred to as it “a boon for the rich.”

Each Kanso and Kyle Wingfield, CEO of the conservative-leaning Georgia Public Coverage Basis, agree that the 4.99% fee could not arrive by 2029.

“In the event you take a look at all of the triggers, I’m undecided that hitting all three of them 5 or 6 years in a row will essentially occur,” Wingfield stated.

The invoice requires a assessment of different tax breaks, after Republican Senate Finance Committee Chairman Chuck Hufstetler of Rome unsuccessfully proposed limiting the $1 billion-plus Georgia offers to film and tv productions annually. That report is due by December 2023, simply earlier than the primary earnings tax reduce.

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Kemp stated he is dedicated to the assessment, nevertheless it’s not clear if Home leaders share the Senate’s curiosity in limiting tax breaks. Blackmon stated the Home needs to point out “fiscal duty.”

The opposite possibility, if the state doesn’t meet income objectives, could possibly be to discard them, Wingfield stated.

“If we’re not hitting the triggers quick sufficient, however the state’s revenues and financial image are nonetheless steady or sustainable, then you would take a look at expediting a few of these down the street,” he stated.

Comply with Jeff Amy on Twitter at http://twitter.com/jeffamy.

Copyright 2022 The Related Press. All rights reserved. This materials is probably not printed, broadcast, rewritten or redistributed.

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Georgia

Election 2024 live updates: Trump hits North Carolina; Harris to stump in Georgia

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Election 2024 live updates: Trump hits North Carolina; Harris to stump in Georgia


Trump called into Fox News’ “Fox & Friends” this morning before his day of campaigning in North Carolina and again defended his violent comments about Republican former Rep. Liz Cheney earlier this week.  

“All I said is, let’s see how she does,” Trump said. “I said, put a gun in her hand and let her go out and let her face the enemy with a gun in her hand.” Trump also called Cheney a “female bully.” 

The former president suggested in an interview with former Fox News host Tucker Carlson in Arizona on Thursday night that Cheney would not be such “a radical war hawk” if she were sent to fight “with a rifle standing there with nine barrels shooting at her.”

“Let’s see how she feels about it, you know, when the guns are trained on her face,” Trump continued. “You know, they’re all war hawks when they’re sitting in Washington in a nice building.” 

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On “Fox & Friends” this morning, Trump also addressed the backlash over racist remarks a comedian made about Puerto Rico at the former president’s rally in New York City last weekend. Trump restated his claim that nobody’s done more for the U.S. territory then him, saying that he had no idea who the comedian was and that the coverage of the offensive comments had “stained” the entire evening. 

“They made this one comedian telling one little joke early in the show, when nobody had even started going into the arena practically, they made this comedian and they made the whole weekend, and they took out this gorgeous, unbelievable patriotic evening, and they sort of stained it a little bit by a comedian that I have no idea who he is,” Trump said.



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Mel Brown, Nick Evers guide UConn to 34-27 victory over Georgia State

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Mel Brown, Nick Evers guide UConn to 34-27 victory over Georgia State


Associated Press

EAST HARTFORD, Conn. (AP) — Mel Brown rushed for 138 yards and a touchdown, Nick Evers threw a touchdown pass and ran for a score, and Connecticut held off Georgia State 34-27 on Friday night.

UConn (6-3) marched 59 yards in three plays the first time it had the ball, using Evers’ 2-yard touchdown toss to Louis Hansen to take a 7-0 lead. Brown’s 52-yard run on first down set up the score. Chris Freeman added a 42-yard field goal, and the Huskies led 10-0 after one quarter.

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Georgia State (2-6) capped a 10-play, 75-yard drive with Zach Gibson’s 7-yard touchdown pass to Ted Hurst to pull within 10-7 early in the second quarter. The Panthers turned a fumble recovery by Henry Bryant near midfield into a 30-yard field goal by Liam Rickman to forge a 10-10 tie. UConn answered with Freeman’s 28-yard field goal with 20 seconds remaining for a 13-10 advantage at the half.

Cam Edwards’ 46-yard run set up a 1-yard scoring plunge by Durell Robinson and the Huskies took a 10-point lead early in the third quarter. Rickman’s 20-yard field goal at the end of a 16-play drive got Georgia State within 20-13 heading to the fourth.

UConn took a two-touchdown lead with 12:54 left to play on Evers’ 5-yard touchdown run. Brown’s 31-yard scoring run on the first play following Malik Dixon-Williams’ interception and 15-yard return upped the advantage to 34-13.

Freddie Brock had a 55-yard touchdown run and Gibson ran it in from 2 yards out in the final 9:31 for Georgia State, which has lost five in a row.

Evers completed 10 of 16 passes for 75 yards and rushed nine times for 25 more. Brown did his damage on 14 carries. Edwards rushed 13 times for 88 yards as the Huskies finished with 271 on the ground.

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Gibson totaled 257 yards on 28-for-40 passing with one interception for the Panthers. Hurst caught seven passes for 91 yards and Brock had 78 yards on 10 carries.

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Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football.




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Early voting reaches such heights that some Georgia polls may be Election Day 'ghost town'

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Early voting reaches such heights that some Georgia polls may be Election Day 'ghost town'


STONE MOUNTAIN, Ga. (AP) — Flags telling people to “Vote Here” fluttered in not only English, but Spanish, Korean, Vietnamese and Chinese at the Mountain Park Activity Building as a steady stream passed through its doors to cast their ballots in the 2024 election.

One by one, the voters who turned out Thursday were adding to what’s become a colossal heap of early ballots in the key swing state of Georgia. Early voting, scheduled to end Friday, has been so robust that nearly 4 million ballots could be cast before Election Day dawns on Tuesday.

“I normally try to vote early because I’m a mailman and it’s hard to me to get over here on an election day,” said Mike King of Lilburn, who voted for Trump Thursday before scattering leaves as he departed in his red pickup truck.

Voters like King are part of the reason early vote records have been shattered not only in Georgia and other presidential battlegrounds such as North Carolina but even in states without major contests on the ballot like New Jersey and Louisiana. During the pandemic in 2020, then-President Donald Trump railed against early voting and mail voting, claiming they were part of a plot to steal the election from him. In 2022, after falsely blaming his 2020 loss on early voting, he kept at it.

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In both elections, Republicans largely stayed away from voting early, preferring to do it on Election Day. This year Trump has emphasized early voting and his supporters are responding. So far Republicans have flooded the polls in places where in-person early voting is available. Though they’ve increased their mail voting too, it’s been at a much lower rate.

“The Trump effect is real,” said Jason Snead, executive director of Honest Elections, a conservative group that focuses on election policy.

So far about 64 million people have cast ballots in the 2024 election, which is more than one-third the total number who voted in 2020. Not all states register voters by party, but in those that do the early electorate is slightly more Republican than Democratic, according to AP Elections Data.

Early vote data, of course, does not tell you who will win an election. It doesn’t tell you who the voters support, only basic demographic information and sometimes party affiliation. One demographic may seem unusually energized because it dominates the early vote, only to have no more voters left to turn out on Election Day.

Campaigns encourage early voting because it lets them “bank” their most reliable supporters, freeing resources to turn out lower-propensity backers on Election Day.

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“I’ve largely viewed the idea of going back to Election Day as trying to put toothpaste back in a tube,” Snead said.

Election officials say the early vote is already racking up impressive totals. In North Carolina, all but two of 25 western counties most harmed by Hurricane Helene in late September are posting higher early in-person turnout percentages compared with 2020.

Statewide, over 3.7 million people had cast early in-person ballots as of early Friday, exceeding the early in-person total for all of 2020, the North Carolina State Board of Elections said. Early in-person voting ends Saturday afternoon in the state.

“Hurricane Helene did not stop us from voting,” said Karen Brinson Bell, the state board’s executive director and top voting official in that swing state. She added that voters have been appreciative and “we are seeing a lot of civility.”

What to know about the 2024 Election

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In Georgia, so many people have voted early that a state election official says it could be a “ghost town” at the polls on Election Day.

There’s no doubt that part of that is due to Trump. Large signs at his rallies spell out “VOTE EARLY!” and others have also been pushing Republicans to cast ballots before Tuesday, even by mail.

“This election is too important to wait!” proclaimed one flyer mailed to a voter in Georgia by the Elon Musk-funded America PAC. “President Trump is counting on patriots like you to apply for an absentee ballot and bank your vote today.”

Tona Barnes is one person who has heeded that message. Instead of voting on Election Day, she voted early for the first time on Thursday in the northern Atlanta suburb of Marietta.

“He keeps putting it out there to vote early,” she said of Trump.

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Others in Georgia, both Democrats and Republicans, say they vote early for convenience.

Ashenafi Arega, who voted Thursday for Vice President Kamala Harris at the Mountain Park Activity Building in suburban Gwinnett County, said he cast a ballot early “to save time.”

“I think on Election Day the line will be long,” said Arega, who owns an importing business. “It will be discouraging.”

Gabe Sterling, chief operating officer for Secretary of State Brad Raffensperger, said Wednesday that the state already had hit two-thirds of the entire turnout for the 2020 election, when Georgia set a record number of nearly 5 million votes cast.

“There’s a possibility it could be a ghost town on Election Day,” Sterling said. “We had less than a million show up during COVID in 2020 with all the uses of pre-Election Day voting.”

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Nearly as many people had voted early by this time in 2020 in Georgia, but the turnout pattern was different. For a brief time during the pandemic, Georgia allowed voters to request mail ballots online without sending in a form with a hand-inked signature, and allowed counties to set up many drive-through drop boxes. But fueled by Trump’s insistence that he had been cheated, Republican lawmakers allowed only sharply limited drop boxes going forward, imposed new deadlines on mail ballot requests and went back to requiring a hand-signed absentee request form.

That law and others in Georgia led to cries that Republicans were trying to suppress votes. Republicans said 2024’s robust early turnout proves that isn’t so.

“I think that gives the lie to this idea that having some pretty basic security measures in place somehow discourages people from voting,” said Josh McKoon, chairman of the Georgia Republican Party.

But Tolulope Kevin Olasanoye, executive director of the Democratic Party of Georgia, discounts those statements, saying recent fights about State Election Board rules, which ended with a judge throwing out the rules, prove Republicans are preparing to decry the legitimacy of any vote they don’t win in Georgia.

“I think there is no doubt that these folks were trying to muck up the waters a little bit to have something to point to potentially down the road,” Olasanoye said.

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Republicans are thrilled with the turnout in heavily GOP counties, which in some cases is approaching two-thirds of active voters. Through Thursday, about 39% of voters in the majority Black Democratic stronghold of Augusta-Richmond County had cast ballots, while nearly 54% of voters in the neighboring Republican suburb of Columbia County had voted.

“Just from a winning and losing standpoint, the more votes I have put in the bank by Friday, the fewer votes I have to push to the polls on Tuesday to win,” McKoon said.

Olasanoye, though, expressed confidence that Harris was broadening her coalition and would still win.

“Democrats and the vice president, we’re just doing all right,” he said.

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Associated Press reporters Gary Robertson and Makiya Seminera contributed from Raleigh, North Carolina.

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