Georgia's state government cash reserves grew in the 2023 budget year despite some efforts to spend down surplus cash. A new report finds state government now has more than $11 billion in unallocated surplus cash that leaders can spend however they want, after Georgia ran a fourth year of surpluses.
Georgia Gov. Brian Kemp is both increasing spending and cutting taxes as state tax revenues decline, saying he is looking to the state's billions in surplus to allow him to remain on that course. The Republican governor on Tuesday signed a $36.1 billion budget for the year beginning July 1 that will boost pay for public school teachers and state employees, while spending more on education, health care and mental health.
Atlanta Mayor Andre Dickens is proposing an $853.8 million general fund budgetfor fiscal year 2025, the largest in the city’s history. The proposed spending plan is an 8.1% increase over the $790 million general fund budget approved for fiscal year 2024, formerly Atlanta’s largest budget ever.
President Biden's $7.3 trillion budget wish-list puts dollar figures to his pledges in the State of the Union address. But actual spending plans are up to Congress.
Georgia House budget writers approved a $36.1 billion fiscal 2025 state budget Tuesday that includes pay raises for teachers, state and university system employees and judges.
State economist Bob Bushman gave a financial forecast for Georgia on the first day of the Legislature’s budget hearings. Gov. Brian Kemp made remarks virtually.
Georgia Gov. Brian Kemp says he wants to spend an additional $1.8 billion on infrastructure. The Republican governor's prepared speech to the Georgia Chamber of Commerce says he also wants to spend hundreds of millions to expand training for dentists and physicians.
Georgia's state tax collections aren't growing as fast as they were several years ago, but that doesn't mean Gov. Brian Kemp and lawmakers won't have room for new spending. Pay increases for public employees and teachers, more spending on health and education and more tax breaks could all result when lawmakers convene Monday for their 2024 session.
Georgia now has $10.7 billion in surplus cash after the state ran a huge surplus for the third straight year. The State Accounting Office said Monday that Georgia ran a $5.3 billion surplus in the 2022 budget year ended June 30.
Massachusetts voters approved the Fair Share Amendment in November. It places a 4% tax on incomes above $1 million, in addition to the state's standard income tax of 5%.
The GBPI says Georgia's overall state reserves, going into fiscal year 2024, are expected to be above $16 billion — and that's money needed to stabilize the state’s broken systems and strengthen communities.
Georgia Gov. Brian Kemp appears ready to loosen the purse strings a little after having built a budget surplus that could top $10 billion. The money has been accumulating for three years.
Georgia will collect another $5 billion in surplus revenue after the just-concluded budget year. Numbers announced Wednesday by the state Revenue Department show that taxes matched last year's $33 billion, while Gov. Brian Kemp had forecast a steep decrease.
NPR wants to know whether rising prices have led you to shop differently for groceries, travel or entertainment; use "buy now pay later" services; or dip into savings to cover your debts.
