Atlanta, GA (AP) - As Republicans scramble to rework the plan to
overhaul the state's tax code, critics say the latest version leaves a $220 million hole in the budget -- creating more problems than it would solve.
The bill incorporates pieces of a proposal offered by the tax council created last year by the Legislature. The original plan was touted as revenue-neutral, but concerns were raised last week that the measure could hurt the middle class. The new plan would extend a lump-sum deduction to earners with federally adjusted gross incomes of $80,000 for single filers and $160,000 for joint filers.
Critics say the Legislature should hold off on doing anything this year, since lawmakers aren't required to act on the measure until April 2012, the end of the current two-year session.
(Copyright 2011 by The Associated Press. All Rights Reserved.)