Although the House and Senate took up a number of measures throughout the day, money matters drew the attention of most lawmakers and lobbyists under the Gold Dome on Wednesday. After approving a measure to reduce Georgia’s income tax rate from 5.75% to 5.25% and reworking the personal exemption regime (HB 1437), the House turned to spending tax dollars, taking up and signing off on a compromise version of the Amended FY22 Budget (HB 910). The compromise, reached with Senate budget writers outside of the typical conference committee process, reflects $3.08 billion in additional spending from the original $30.3 billion budget passed last year, an 11.3% increase driven by record-setting revenue collections throughout FY22. While the House agreed with most of the Senate’s proposed changes, an increased revenue estimate released by the Governor’s Office on March 3 allowed for allocators to, among other things, double the $1,000 one-time salary supplements proposed for school bus drivers, nutrition workers, nurses, part-time employees to $2,000 (full-time instructional staff and administration were already allocated $2,000) and fund additional one-time expenses. Overall, the Amended FY22 spending plan, which is expected to receive final approval in the Senate later this week, includes more than $900 million in new, one-time capital expenses and more than $950 million in salary increases for state employees and educators.
But don’t stop following the money quite yet–the House...
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