ATLANTA — Television viewers know summer is a time of reruns. Now Georgia’s Republican legislators, in what looks like a rerun, are trying to end a major state tax.
The last state to drop its income tax was Alaska, and they got rid it after striking oil. Now, instead of paying taxes, every Alaskan gets a check from the state, courtesy of oil profits.
Then-Gov. Sonny Perdue wanted to get rid of Georgia’s income taxes, but economists told him he first needed to build up a large cash reserve for the transition. That reserve ended up being used to cushion the state in recession.