$100 million revenue bill shunned while Delta tax break pushed, casinos and sales tax debated

Committee Chairman Jay Powell pushes his own new tax but shies from reaping revenue from black-market economy – Chamber of Commerce-supported bill has no Middle Georgia cosigners.

From the Gold Dome sneaky priorities file: A common sense bill that is projected to produce $100 million in annual state revenue if passed has so far been refused even a committee hearing.

HB 66, from state Rep. Jeff Jones of Brunswick, consists of a simple and proven concept involving a, small, fully refundable fee on wire transfers sent out of the state by individuals. Corporate transfers are specifically exempted and Jones makes it clear that his revenue bill is aimed the vast underground economy.

Under the language of Jones’ bill, wire transfer senders who pay the small and standardized fee can easily obtain a full refund when they file their state income tax return.

Implemented in Oklahoma in 2010, the revenue system does not cost honest tax filers of any description a penny. Official reports from Oklahoma show that not only is the refundable fee system producing a reliable stream of revenue, but that it is increasing by about 10% each year. In 2015, the system added $11 million to the state coffers there.

Read more: http://evans.allongeorgia.com/100-million-revenue-bill-shunned-while-delta-tax-break-pushed-casinos-and-sales-tax-debated/