© 2023 WUGA | University of Georgia
shupe_2.jpg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations

Lawmakers take a close look at tax breaks

Tax reform
Pixabay

Georgia lawmakers are taking a close look this legislative session at the tax breaks the state gives out each year.

The AJC reports state audits that came out late last year raised questions about whether the state is getting its money’s worth from some of the tax breaks. For many, the job creation credited to the exemptions would have happened without the credits or exemptions.

Last year, lawmakers sought to cap how much the state spends on providing tax credits to the film industry at $900 million annually. Auditors say it is the state’s largest income tax credit and the most lucrative film incentive in the country.

The chairman of the senate appropriations committee has gone as far as saying the special interest tax breaks should be eliminated entirely in favor of reducing taxes across the board. Supporters of the exemptions say legislators need to be careful not to eliminate incentives for businesses to create jobs.