Georgia governor wants to slash state tax windfall

Georgia governor wants to slash state tax windfall

Associated Press

ATLANTA (AP) - When Congress overhauled the federal tax code two months ago, Georgia officials didn't initially realize how much extra money taxpayers would be giving the state.

Now, with Georgians expected to pay an additional $4.7 billion in state taxes cumulatively over the next five years, lawmakers are debating what to do with the extra funds.

Republican Gov. Nathan Deal had hoped to defer the question until 2019. After receiving swift pushback last month from other GOP legislative leaders - including many running for higher office in November - Deal decided instead to slash the so-called windfall by 75 percent before it even arrives.

Democrats argue that the money could be a boon and be reinvested in state services, while some conservatives think the money should immediately prompt tax cuts.

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