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.
ATLANTA — 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.
Including federal money and other funds such as college tuition, the state will spend $66.8 billion overall. Georgia has $5.4 billion set aside in its rainy day fund, which is filled to its legal limit of 15% of state revenue. Beyond that, it hadcollected over three years. Lawmakers approved Kemp’s plan to spend more than $2 billion of the surplus in changes to the current budget, which ends June 30. But that would leave more than $8 billion in reserve.
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