"Mental recession" in Georgia is no fun and may get worse.
Dick Pettys in InsiderAdvantage Georgia has a good report on state's economy and shortfall in revenues.
He notes that Sen. Jack Hill, R-Reidsville, chairman of the Senate Appropriations Committee, has raised the question of whether a special session might be needed if it is determined that the nearly two dozen tax-cutting bills approved by the Legislature this year while things looked somewhat rosier might need to be adjusted to take effect at a later date. According to the Georgia Budget and Policy Institute, the state will take a tax hit of as much as $165 million from the cumulative effect of those measures.
This morning I heard from a department head the 3.5 percent in reductions the governor has ordered state agencies to find is tough, but Pettys reports that Sen. Hill says this 3.5% may not be sufficient.
But hey, don't worry, it all just part of the country's "mental recession."
He notes that Sen. Jack Hill, R-Reidsville, chairman of the Senate Appropriations Committee, has raised the question of whether a special session might be needed if it is determined that the nearly two dozen tax-cutting bills approved by the Legislature this year while things looked somewhat rosier might need to be adjusted to take effect at a later date. According to the Georgia Budget and Policy Institute, the state will take a tax hit of as much as $165 million from the cumulative effect of those measures.
This morning I heard from a department head the 3.5 percent in reductions the governor has ordered state agencies to find is tough, but Pettys reports that Sen. Hill says this 3.5% may not be sufficient.
But hey, don't worry, it all just part of the country's "mental recession."
posted by Sid Cottingham | 9:30 AM
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