Georgia Senate seeks gradual tax cut, ditches film tax limit

ATLANTA (AP) — Georgia senators are favoring a more gradual income tax cut that would start smaller than one proposed by the House, but eventually could be twice as big.

The Senate voted 51-4 on Friday in favor of its version of House Bill 1437, which would gradually create a flat state income tax of 4.99% by 2032 or later. That compares to today’s income tax with graduated brackets and a top rate of 5.75%.

The measure goes back to the House, which wants to create a flat 5.25% rate in 2024, leaving only until the end of the session on Monday to work out differences on what’s been a major priority of Republican House Speaker David Ralston of Blue Ridge.