No matter who wins the race for Georgia governor, state taxpayers may see more money in their pockets next year.
Incumbent Gov. Brian Kemp and Democratic nominee Stacey Abrams have both proposed another round of tax rebates in 2023.
Earlier this year, House Bill 1302 gave a $250 refund to single filers, $375 to single adults who head a household with dependents and $500 to married couples filing jointly this year.
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Stacey Abrams introduced her plan for a $1 billion tax rebate in July. Abrams’ proposal is for $250 for single filers or $500 for married couples filing jointly.
Abrams’ plan would use state budget surplus and COVID relief money passed to give tax rebates to Georgians making less than $250,000 a year.
“Georgians need money in their pockets and a roof over their heads – and we need to invest to help them meet this moment,” Abrams said.
On Thursday, Kemp announced his counteroffer and said he wants to spend $2 billion in state budget surplus. Half of it would be for a tax rebate and the other half for homeowner property tax rebate.
“I believe that isn’t the government’s money, it’s yours...And our job isn’t to spend it all just because we can,” Kemp said.
Kemp’s proposal would be $250 for single filers and $500 for married couples filing jointly. Kemp said his proposed property tax rebate would save homeowners on average $500.
The tax breaks would need to be approved during the 2023 General Assembly. If the general assembly approves them, then the bill would go to the governor’s desk.
Whether that will be Kemp or Abrams will be decided in the general election this November.
Economics have been the focus of both campaigns. On Tuesday, Abrams unveiled more of her plan and announced that she wants to use Georgia’s record budget surplus to also expand Medicaid and help small business gain access to capital.
In response to Abrams economic plan, his campaign said: “Across our country, families are struggling to make ends meet all because of the same failed liberal way of thinking.”
Abrams, meanwhile, defends her plan and believes now is the time to do it.
“We can do it now. The math proves we can do it without raising a dime in taxes, and my plan is about how we get it done,” Abrams said.