ATLANTA (November 5, 2014) | Georgians statewide voted to approve Constitutional Amendment A by a wide margin on Tuesday, November 4; effectively prohibiting the Georgia General Assembly from increasing the maximum state income tax rate. The measure was proposed through Senate Resolution 415 by Senate President Pro Tempore David Shafer (R – Duluth), a longtime supporter of tax reform, during the 2014 legislative session.
“Georgians voted overwhelmingly to keep Georgia’s taxes low,” said Sen. Shafer. “Georgia is now the only state in the Southeast that constitutionally caps its maximum income tax rate.”
A group of 17 leading Georgia economists released a statement earlier this year endorsing Constitutional Amendment A, predicting the measure would stimulate job creation by providing “a large and important measure of long-run certainty in Georgia’s business environment.” The group also endorsed future tax reforms that would lower Georgia’s income tax rate and reduce the financial burden on Georgia taxpayers.
“Our constitutional promise of low taxes will encourage new businesses to locate here and existing businesses to expand,” said Sen. Shafer.
Constitutional Amendment A passed with over 73 percent of the vote. As a result, the Georgia’s maximum state income tax rate will now be capped as of January 1, 2015.
Sen. Shafer’s resolution was co-sponsored by every member of the Senate Republican Caucus and carried in the House by House Majority Whip Matt Ramsey (R – Peachtree City).