Category Archives: Taxes

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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Party of the Rich?

“Our tax code should work for everyone – not just for the highest earners.  That’s only fair.  But Washington is actually making these disparities worse” Governor Ralph Northam• “State of the Commonwealth” Address Actually, it’s the other way around. The … Continue reading

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Tax Issues Stay On Front Burner

Things move rapidly at the Virginia General Assembly, but one week into the 2019 session there is no hint of a decision on how Virginia will respond to federal Tax Cuts and Jobs Act of 2017, which happened 13 months … Continue reading

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