Georgia Tax Bill Would Take Billions in Breaks From Companies

Georgia wants to lower income taxes. Some of the world’s biggest companies are standing in the way.

A state Senate bill that would all but exempt many lower- and middle-income earners from state income tax is stalling in the Georgia House, stymied by opposition from corporations that stand to lose billions in tax breaks. Both chambers of Georgia’s legislature are controlled by Republicans.

The legislation, which passed Georgia’s upper chamber 32-18 last month, would cut the state’s flat income-tax rate for individuals and corporations from 5.19% to 4.99% starting this year. It would also exempt the first $50,000 of earnings ...