Virginia
The Commonwealth Institute: How the Governor’s Proposal Increases Taxes for Low-Income Families, Gives Significant Cuts to the Wealthy
January 23, 2024
When we all pitch in our fair share, we can invest in the programs and services that help everyone to thrive, like public education, affordable housing, and more. But Virginia’s tax code is upside-down, where those with the most pay the least taxes as a share of income.
The Commonwealth Institute: Cutting Top Personal Income Tax Boosts the Wealthy, Excludes People with Lower Incomes
June 6, 2023
With no budget compromise yet from the Virginia General Assembly, $1 billion in untargeted tax cuts that mostly benefit the wealthy and profitable corporations are still on the table. Read more.
The Commonwealth Institute: Support Virginia Families Through a Commonwealth Kids Credit
January 17, 2023
True economic prosperity means that families are doing well and have the resources and opportunity to thrive. By coming together, people in Virginia have won an improved Earned Income Tax Credit (EITC), increased minimum wage, and expanded workers rights in recent years — policy wins that lift families up. Yet more must be done to […]
Virginia Joint Legislative Audit and Review Commission: Options to Make Virginia’s Individual Income Tax More Progressive
October 24, 2022
Though Virginia has substantially reduced taxes for low and lower-middle income filers, it could further reduce the tax burden for these filers and make the income tax even more progressive. Read more.
The Commonwealth Institute for Fiscal Analysis: Gas Tax Proposal Misses the Mark
March 29, 2022
Earlier this month, Virginia Gov. Glenn Youngkin announced a new policy proposal to suspend the state’s 26-cents per gallon gas tax for three months and to cap gas tax rates in future years. If enacted, this policy is likely to miss the mark on helping families in Virginia who are struggling with higher costs, while […]
The Commonwealth Institute: Youngkin Administration’s Proposals Would Sharply Reduce State Resources, Largely Exclude Working Families with the Lowest Incomes
February 7, 2022
The Youngkin administration’s tax plan would leave out nearly 80 percent of the over 800,000 taxpayers in Virginia who have incomes below $24,000. Gov. Youngkin’s proposed changes would also sharply reduce state General Fund revenues — the portion of the state budget over which lawmakers have the most discretion and which primarily goes toward funding […]
The Commonwealth Institute: Tax Proposals Would Reduce Resources for Education, Transportation, and Other Priorities
December 8, 2021
The incoming Youngkin administration and state lawmakers have proposed several major tax proposals to reduce taxes for individuals and businesses. These include one-time tax rebates, dramatically increasing the state standard deduction, eliminating the state and local sales tax on groceries, and pausing the recent increase to the fuels tax. While some of these policy ideas […]
The Commonwealth Institute: Tax Policy in Virginia
September 24, 2021
Black and Latinx people face tremendous barriers in areas like employment, education, and housing. These barriers include explicitly racist policies like school segregation as well as policies that appear “race-neutral” yet reinforce or exacerbate racially inequitable outcomes. Virginia’s upside-down tax code is no different. A more progressive and racially equitable tax code — one that […]
Commonwealth Institute: State Funding Proposals Include Regressive Tax Increases – Many without Offsets
February 21, 2020
Although many significant state (Virginia) tax policy bills filed for this year did not move beyond the committee level, several proposals remain under consideration. A large transportation funding package (HB 1414 and SB 890) and several standalone regional transportation funding bills have advanced from their respective chambers in the Virginia General Assembly. In addition, proposed […]
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