During the 2015 Georgia legislative session, several bills were introduced including the “More Take Home Pay Act of 2015,” which would have lowered state income tax rates, raised the sales tax rate and broadened the sales tax base. For many years, policymakers in Georgia have shown considerable interest in tax reform that would reduce… more »
The global financial crisis brought investment risk to the forefront of the minds of state and local government officials as well as pensioners whose retirement income hung in the balance. Already struggling with the monumental issue of an aging population, many state’s and city’s pension fund shortfalls were further stressed by the impact of the… more »
In the fall of 2015, Georgia vied with several other states to lure away the General Electric Company corporate headquarters from Fairfield, Conn. Meanwhile, Connecticut scrambled to keep one of its signature companies. Central to the competition was Connecticut’s tax regime, and its recent business tax increase, but also important was the extent to which… more »
In December, the Federal Reserve hiked the federal funds rate by a quarter percent for the first time since the Great Recession. The Fed also discussed a series of additional interest rate increases in 2016. Does this move signal a bright, new era of economic growth and higher interest rates or will the American economy continue stagnating… more »
I always get the question: “Will we make budget?” So, this is a quick look at the governor’s budget revenue estimates and what the executive branch seems to be thinking in terms of revenue growth.
First, some background: The amended and general budgets… more »
Georgia’s state budget has been through a long, tough period during and after the Great Recession. The good news is that this year it’s looking like the state is finally going to have some breathing room. That being… more »
Georgia’s statewide per student property tax digest has been declining since the Great Recession, affecting school districts’ revenues and, thus, their budgets. Finally, after five straight years of declines, the statewide per student property tax digest is growing – a 1.6 percent increase between fiscal years 2014 and 2015.
The recent growth in the statewide… more »
As hard hit as Georgia was by the Great Recession of 2007–09, the state’s economy was much larger in fiscal 2014 than in 2001. Georgia’s state gross domestic product (GDP) is up more than 14 percent over that time, adjusted for inflation, while real personal income is up more than 24 percent. Yet over that… more »
Georgia’s seasonally adjusted unemployment rate dropped in July to 6 percent, the lowest it has been in seven years, according to new figures released Aug. 20 by the Georgia Department of Labor.
The rate is down one-tenth of a percentage point from 6.1 percent in June, and down from 7.2 percent in July 2014.… more »
Supporting business retention and recruitment is the primary goal for state and local economic development policy in the United States. Although there are many policies available for this purpose, economic development incentives are an often used and controversial tool. The typical economic development incentive package is comprised of both tax and non-tax incentives. The non-tax… more »