Stimulus update: Georgia residents could get up to $500 cash back in Gov. Kemp’s next budget
Asher Notheis
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Georgia taxpayers might be able to expect some money returned to them sometime this year.
Georgia Gov. Brian Kemp (R) suggested that taxpayers may receive some money back in response to a surplus in the state, with individuals getting $250 and joint filers getting $500. The pitch was made during a meeting he had with state lawmakers on Tuesday, where he wanted to return some of the state’s $6.57 billion surplus back to taxpayers, according to WSB-TV.
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“The Governor has proposed in his budget to return over $1 billion back to taxpayers in the form of a tax rebate and another $1.1 billion in the form of a property tax rebate which would save Georgia homeowners around $500 on average,” a spokesperson for the governor’s office told the Washington Examiner. “Also, out of this surplus we are paying back the $1.7 billion we saved Georgia drivers by suspending the gas tax in 2022.”
Kemp says that giving money back to residents from this surplus would be returning the funds to “where they belong.”
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The governor of the Peach State has also suggested giving teachers a $2,000 raise and a $50,000 grant for every school in the state that would be used to improve security. Kemp has pitched these initiatives for the state budget in previous discussions.
In December of last year, an analysis revealed that Georgia’s revenues exceeded expenses overall in the past 15 years, with the state’s total revenue as a share of expenses during the fiscal years between 2006 and 2020 at 102.6%. Kemp cited the state’s fiscal position when he suspended the gas tax in the state.