ATLANTA (AP) — Georgia Gov. Brian Kemp is both increasing spending and cutting taxes as state tax revenues decline, saying he is looking to the state’s billions in surplus to allow him to remain on that course.
The Republican governor on Tuesday signed a $36.1 billion budget for the year beginning July 1 that will boost pay for public school teachers and state employees, while spending more on education, health care and mental health.
Including federal money and other funds such as college tuition, the state will spend $66.8 billion overall.
In remarks to reporters at the state Capitol after signing the spending plan, Kemp said this year’s legislative session “offered something for everybody.”
Georgia has $5.4 billion set aside in its rainy day fund, which is filled to its legal limit of 15% of state revenue. Beyond that, it had $10.7 billion in surplus cash collected over three years. Lawmakers approved Kemp’s plan to spend more than $2 billion of the surplus in changes to the current budget, which ends June 30. But that would leave more than $8 billion in reserve.
Leverkusen unbeaten run up to 48 after Frankfurt win
Horoscope today: Daily guide to what the stars have in store for YOU
Colin Firth's Pride and Prejudice wet shirt up for auction
Best quotes from Harry and Meghan's shocking Oprah interview
Britain's most notorious inmate Charles Bronson puts his parole bid in jeopardy after punch
Monica Garcia's baby daddy revealed to be Braxton Knight, 29
Geena Davis, 68, puts on a leggy display in thigh
Conan O'Brien reveals the WORST 'amateur move' a talk
Woman identified as person killed in fall at daughter's Ohio State graduation
Facebook and Instagram down in apparent global outages
3 Indian nationals charged with killing Canadian Sikh separatist leader make first court appearance
Person in serious condition after incident in Feilding