ATLANTA - Georgia is sitting on a massive cash cushion, with more than $14.6 billion now in state reserves, according to a new report from the State Accounting Office released this week.

Georgia's budget surplus

What we know:

That total includes about $9 billion in undesignated funds and $5.6 billion in the state’s rainy day account, giving lawmakers plenty to debate when they return to the Capitol in January.

The state’s surplus isn’t new. Last year’s total reached $16.5 billion, allowing lawmakers to cut income tax rates and send out more than $2 billion in refund checks to taxpayers.

It’s unclear whether similar refunds are possible this year. Economists say Georgia could soon feel the effects of new tariffs and must also make up for expected federal cuts to Medicaid.

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