Gov. Brian Kemp announced Monday that he will introduce new legislation to "accelerate" what he says will be the largest income tax cut in Georgia history.
At the Georgia Capital, Kemp was joined by first lady Marty Kemp, Lt. Gov. Burt Jones, Speaker Jon Burns, and state lawmakers to announce plans to pass an amendment to HB 1437.
The current bill would provide a step down of 10 basis points to Georgia's income tax rate starting in 2025. The decrease would continue every taxable year until the rate reached 4.99%.
Officials say the acceleration would leave the rate for Tax Year 2024 at 5.39% - 0.1% less than what was set by HB 1437.