Updated at 5:07 p.m.: The joint House-Senate committee sent HB 387, a tax overhaul bill that expands the reach of the sales tax and cuts the personal income tax rate, to the House for the first of two all-or-nothing votes.
The House is to vote on the matter Wednesday. The Senate could vote as early as Friday.
Original: My AJC colleague Chris Joyner just scored some Democratic number-crunching on the impact of HB 387, the tax overhaul bill that would trade increased sales taxes for a 25 percent reduction in the personal income tax rate.
Despite that reduction, because deductions would be capped, 1.2 million individuals and couples in Georgia who earn between $20,000 and $180,000 a year – and file itemized deductions — would pay anywhere from $44 to $419 a year more in income taxes, according to figures provided to the party by the Georgia State University Fiscal Research Center.
Income brackets above $180,000 would pay fewer taxes, with $1,000-plus benefits to those earning