Georgia lawmakers could consider overhauling the state’s tax credits when they reconvene in January, but the specific action they take could depend on what they hear from experts over the next few months.
“The economic reality of tax credits is that when we help to expand an industry that isn’t profitable without our help, that’s bad for the economy,” University of Georgia professor Jeffrey Dorfman, the state’s fiscal economist, told members of the Joint Tax Credit Review Panel, which held its first public meeting this week. “Generally, this is not what you want to do. Thus, tax credits only make sense for business attraction if attracting that plant or employer or industry to the state is going to bring you some spillover benefit, some long-term benefit or some non-economic benefit.”
Read the full story
