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Pocketbook Politics Talks Tax Reform
 

Pocketbook Politics started strong in 2011 with our first luncheon event of the year:  “Georgia’s Tax Code Gets a Makeover,” held on January 28th at the City Club of Buckhead!  Dr. Roger Tutterow, Professor of Economics at Mercer University, and Representative Chuck Martin (R-47) discussed the efforts of the Special Council on Tax Reform and Fairness to overhaul the Georgia’s antiquated tax code.   


Dr. Tutterow, a contributing architect of the tax reform plan, discussed the purpose of the Council, which was tasked with conducting a comprehensive review of Georgia’s revenue structure and developing recommendations for a new revenue structure focused on efficiency, equity, and transparency.  The Council’s final recommendations were driven by the goal of moving Georgia’s income-based tax system to one based on consumption, in order to broaden the tax base and increase stability in annual tax revenues.

Major components of the reform plan include:

  • Gradual reduction of the personal income tax rate from 6% to 4% by 2014
  • Corresponding reduction of the corporate income tax rate to maintain parity with personal income tax rate
  • Elimination of certain sales tax exemptions, including the exemption for grocery food products
  • Creation of a new exemption for energy used in manufacturing, mining, and agriculture in order to reduce energy costs on businesses
  • Reduce the insurance premium tax to a rate more competitive with other states
Dr. Tutterow expressed the conclusions of the Council that the reform measures would increase stability in tax revenue while attracting business to Georgia and encouraging job growth, and added that the proposed reforms had the strong support of the business community.
 
Rep. Martin addressed the issue of how the tax reform plan could be presented as legislation and considered by the Georgia Assembly.  He expects that the entire reform package will be presented in a bill or series of bills for an up or down vote.  He supports the recommendations as a whole, stating that Georgia is “well overdue” for a revenue model that is “sustainable and can support essential state government services.”  He believes that the Tax Council’s broader-based revenue system is a better way to achieve consistent annual revenues, and opposes raising personal income rates to increase revenue as other states, such as Illinois, have done.   He is confident that the implementation of the full plan would not result in a net tax increase on taxpayers.
 
Review the entire tax reform plan here

 For continuous updates on the future of the tax reform plan, please visit the Pocketbook Politics website and facebook page.  


Special Pocketbook Politics Member Event
 
         Join us on the morning of Valentine’s Day
for a Breakfast Meet & Greet under the Gold Dome with the
 
Georgia General Assembly
Women’s Legislative Caucus

 
Monday, February 14, 2011
8:00 AM
 
Room 230 at the Georgia Capitol
100 Washington St., S.W.
Atlanta, Georgia 30334
 
Light Breakfast and Coffee will be served
 
Please RSVP to Amy Borden at
events@pocketbookpolitics.org or by phone at 678.637.7966
 
Not a member yet?  Sign up here!


Up Next:  Spring 2011
"The Impact of Health Care Reform on Your Pocketbook"
 
The Spring Pocketbook Politics luncheon event will feature the critical issue of health care reform. 

On March 23, 2010, President Obama signed into law the Patient Protection and Affordable Care Act (PPACA).  Nearly a year later, efforts are already underway in the new Congress to repeal and reform the law.  Georgia joined with twenty-five other states in a federal lawsuit in Florida challenging the constitutionality of the PPACA and its controversial “individual mandate,” which requires all individuals to purchase qualifying health insurance.  On Monday, U.S. District Judge Roger Vinson ruled in the states’ favor, finding the PPACA unconstitutional and striking down the law in its entirety.  That ruling is expected to be reviewed on appeal. 

Pocketbooks Politics will host a panel of elected officials and business leaders to discuss the effect of the new reforms on businesses and individuals, as well as repeal and reform efforts in Congress and the courts.  Watch for the upcoming invitation!

 
Latest News on the Health Care Law:

Georgia officials praise judge's ruling on health care law, say fight is not over

Senate Votes Down GOP Effort to Repeal Health Care Law

Judge strikes down entire new health-care law

 Pocketbook Politics Partners with Smart Girl Politics!

Pocketbook Politics announces a new strategic partnership with Smart Girl Politics to strengthen our voice and further broaden our network of fiscally conservative women.  Smart Girl Politics is a national organization that shares our goal of engaging, educating, and empowering conservative women.  Pocketbook Politics looks forward to joining with Smart Girl Politics for future events. 
 
Pocketbook Politics Partners:
 
Smart Girl Politics
 
The Kitchen Cabinet


Happenings

Georgia’s House Speaker Discusses What’s Happening under the Gold Dome
Hosted by the Atlanta Press Club
Feb. 17, 2011 at 11:30 am at The Commerce Club

The Fiscal Solutions Tour – How to Get the Country Back on a Fiscally Responsible Track 

Hosted by the Atlanta Press Club
March 2, 2011 at 11:30 am at The Commerce Club


Join us


POCKETBOOK POLITICS is an organization of Georgia professional women seeking common sense, pro-business solutions to the tough economic challenges facing our state and nation. We are committed to the principles of fiscal responsibility and limited government, and holding our elected leaders accountable for being responsible stewards of our hard-earned tax dollars.  
Sign up today!


Board Members:  Loretta Lepore
Amy Borden, Kathleen Bowen, Sarah Douglas, Juliana Iarossi,
Anne Lewis, Charlene Marino, Toria Morgan and Danna Thompson

Please click
here for more information on the Pocketbook Politics Board Members. 

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