Kudos to both Lt. Governor Cagle and Speaker Richardson for devising a tax-cut that is offset by spending. After Sine Die we need to send you to Washington to teach that to your federal brethren.

The AJC is reporting:

Georgia homeowners would get a $100 property tax cut under a budget agreement reached Tuesday night by state House and Senate leaders….

House leaders proposed the tax cut after they reached an impasse with Senate leaders on the midyear budget for fiscal 2007, which ends June 30. Strong state tax collections have given lawmakers extra budget dollars this year.

Members of the House said senators had portrayed them as big spenders because they had tried to include projects such as museum funding and Perdue’s “Go Fish Georgia” fishing tourism program in the budget.

The Senate gutted the midyear budget of those projects, and the two sides did not appear near a deal when they began negotiations Tuesday.

The House budget negotiators counterproposed with the tax cut, and the Senate accepted.
(Budget deal gives residents tax break | ajc.com)

Travis Fain has a good explanation as to why this is being done via a property tax refund here

Mr. Speaker: I know this compromise probably doesn’t make you popular with your caucus right now. I know $100 isn’t a massive windfall to taxpayers upon which you can ride to re-election next year. However you did the right thing.

Lt. Gov. Cagle: Thank you for sticking to your guns and not backing down. The press was salivating at the prospect of an internal GOP fight and I’m sure there was pressure to compromise to make this unpleasantness go away.

Next up is the FY2008 Budget which will also contain pork. Stay tuned to Georgia Porkbusters for more.

HB94 must now be approved by both bodies (a formality) and then is on to the Governor for signature

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