ATLANTA — The Georgia House of Representatives has passed four pieces of legislation to cut taxes on Georgia families and businesses, as well as create jobs and expand economic opportunity across the state. These measures include the Tax Relief Act of 2021, the Georgia Economic Recovery Act of 2021, the Georgia Economic Renewal Act of 2021 and the Reauthorization of the House Rural Development Council.
“Our House of Representatives is focused on expanding economic opportunity for every Georgian,” Speaker David Ralston, R-Blue Ridge, said. “Today, we have cut taxes on Georgians and adopted legislation to create jobs from Blue Ridge to Bainbridge. I am proud of our continuing efforts to ensure Georgia remains a great place to live, to work and to raise a family.”
The Tax Relief Act of 2021 (HB 593), sponsored by Rep. Shaw Blackmon, cuts income taxes by $140 million.
The bill raises the standard deduction on state income tax returns for a single taxpayer by $800 and raises the standard deduction for a married couple filing a joint return to $1,100.
“The Tax Relief Act of 2021 cuts taxes on Georgians and allows them to keep more of their hard-earned money,” Blackmon, R-Bonaire, chairman of the Ways & Means Committee, said. “This measure follows the tax cuts that the House passed in 2018 and 2020 in demonstrating our commitment to keeping the tax burden on Georgians as low as possible.”
The Georgia Economic Recovery Act of 2021 (HB 586), sponsored by Rep. Sam Watson, provides or extends a number of sales tax exemptions for manufacturing and other businesses to encourage job creation and economic growth. Among the measures are the extensions of sales tax exemptions for projects of regional significance and sales tax exemptions for supplies in select manufacturing industries. It also exempts tickets for fine arts performances from sales taxes to bolster an industry that has been devastated by COVID-19.
“Our Georgia Economic Recovery Act of 2021 supports businesses and industries that create jobs throughout our state by incentivizing investment,” Watson, R-Moultrie, Chairman of the Appropriations Subcommittee on General Government, said. “We have worked hard to keep the tax burden on businesses reasonable and that work continues through this measure.”
The Georgia Economic Renewal Act of 2021 (HB 587) provides a number of business tax credits to encourage job creation and attract strategic industries to Georgia. Among the measures is a tax credit to incentivize manufacturers of medical equipment to locate in Georgia and create jobs here. Originally proposed by Gov. Brian Kemp, this measure would make Georgia less reliant on other states and nations for medical supplies. House Bill 587 also provides an additional tax credit for high-impact aerospace defense projects to attract such national defense projects to Georgia.
“Georgia has been the No. 1 state for business year after year – and we intend to keep it that way,” Rep. Bruce Williamson, R-Monroe, the secretary/treasurer of the Majority Caucus. “We want to see high-paying jobs come to Georgia and bolster our economy by making products that will benefit our state and its people. I am proud to champion job creation and thank our colleagues for supporting this important legislation.
Representative Gerald Greene of District 151 stated, “These pieces of legislation were a commitment I made (to constituents) in this last election. I will continue to work to bring help to our rural areas. It takes a great deal of work and effort to bring about change in the ‘second Georgia.’ By working together, great strides are being made in our district.”
Greene represents House District 151 in the Georgia General Assembly, where he serves as chairman of State Properties. District 151 includes Clay, Early, Stewart, Webster Calhoun, Dougherty, Randolph, Terrell, and Quitman Counties. Greene can be reached at the Capitol at (404) 656-9210 or by email at Gerald.Greene@house.ga.gov.