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Category Archives: Taxes
The State of Taxaginia: Taxes Times Four
Wealth taxes are all the rage now in national discussions, with Democrats usually getting battered for proposing one. But as final versions of the income tax bill moved around the 2019 General Assembly, Democrats slipped in a provision to cap … Continue reading
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Carbon Tax on Track for Approval
Once again, both parties at the Virginia General Assembly has pushed forward doomed legislation on a proposed carbon cap and tax regime the state will soon impose on Virginia’s fossil fuel electric power plants, with the stalemate leaving Governor Ralph … Continue reading
Posted in Energy, Environment, Taxes
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TCJA Remains Big Revenue Gain for State
The tax relief proposals advancing in both the Virginia House of Delegates and Virginia Senate return at most half of the estimated additional state revenue created by the federal Tax Cuts and Jobs Act (TCJA) over six years. As Virginia … Continue reading
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Love the Middle Class? Index Virginia’s Taxes!
Virginia’s most effective tax collector is inflation. Virginia’s long refusal to adjust any element of its income tax for slow but constant inflation means that each year, a slightly higher percentage of your growing income is taxed, and the rising … Continue reading
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Look What They’re Saying About The Thomas Jefferson Institute Tax Plan!
The Thomas Jefferson Institute has proposed a tax plan that would double the standard deduction, phase in a reduction of the corporate income tax, index Virginia’s individual tax brackets, personal exemptions and standard deduction to inflation, and create a mechanism … Continue reading
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