The Commonwealth Institute: Room for Improvement
ITEP Work in Action“Virginia households with an average annual income of $59,000 would save an average of just $6.45 per year – less than the price of a movie ticket. And households making roughly $14,000 a year would save an average of only $1.32 per year per household. That’s barely enough to buy the local newspaper. In fact, less than a third of people making $24,000 or less would get any benefit from the enhanced exemptions. That’s in large part because in Virginia individual filers who make less than $11,950 and couples who make less than $23,900 don’t even have to file taxes because they make so little.”