Kemp’s Proposed State Budget Would Help GA Small Businesses

January 17, 2023

The House and Senate will consider the governor's outline when devising a final spending plan

Kemp's Proposed State Budget Would Help GA Small Businesses

NFIB State Director Hunter Loggins says Gov. Brian Kemp’s proposed state budget includes several provisions that would help Georgia’s small businesses. Loggins told The Georgia Star, “We’re still looking over it, but there’s a lot here that would help Georgia’s small businesses, like the $166.7 million for a Regional Economic Business Assistance program that would help local governments provide incentives to support economic development. Our small business members would also benefit from the proposed $1 billion in state income tax refunds.” The vast majority of small businesses in the state are organized as pass-through entities, meaning the profits pass through the business directly to the owners, who then pay taxes at the individual rate. “Governor Kemp’s plan for a one-time Homeowner Tax Relief Grant would help small business owners as well. “Finally, we appreciate the governor’s call to set aside funds to reduce insurance premiums and make health insurance more affordable,” Loggins said. “Access to affordable health insurance has been one of the greatest concerns for small business owners for many years. With the state reinsurance program, Georgians have seen not only an increase in health insurance options but an average decrease in premiums of about 12 percent.” Governor Kemp’s proposal is only the first step in a process that could take weeks as the House and Senate draw up their own spending plans then iron out any differences.

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Uncategorized

State:

Georgia

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