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Georgia's tax limit legislation said not to hurt credits

By: Robert Slavin

Excerpt from the article:

(April 9, 2026) "Reducing income taxes at the state level 20 basis points is fine and the state should be able to handle that easily," said Cumberland Advisors Executive Vice President and Chief Investment Officer John Mousseau. "But why circumvent a previously passed law which is supposed to be fiscally responsible? Sends a poor message from the legislature, in our opinion.

"Going another 1% down in the personal income tax rate from 4.99% to 3.99% in 12.5 percent increments (8 years) seems like salami tactics for a state that has a surplus as well as one of the lowest debt levels relative to revenue," Mousseau said. "Do it in three or four years. That sends a more meaningful message…. Clearly states must be aware of what contiguous states are doing as well."
"The increases in the state standard deduction we think are always a good thing … that reduces taxable income automatically and benefits those who don't itemize, which is most taxpayers (understanding that it must meet the state revenue increase threshold)," Mousseau said.
"At the margin, it makes the state income taxes somewhat less regressive and more predictable," he said.

 

 

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John R. Mousseau, CFA
Chief Investment Officer
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John R. Mousseau, CFA
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The Bond Buyer

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