GOP intends to deliver common-sense tax cuts
With record inflation, skyrocketing prices and many still suffering the lingering economic effects of pandemic-induced lockdowns, Virginia Senate Democrats should cease their partisan political games and work with Republicans during the upcoming special legislative session to deliver meaningful tax relief. Their mission should be to put more dollars back in the pockets of hardworking Virginia families.
Under the budget plan put forward by Gov. Glenn Youngkin and House Republicans this session, the average Virginia family would see a benefit of $1,500 this year alone. Specifically, the plan calls for eliminating the grocery tax, doubling the standard deduction to $9,000 for single filers and $18,000 for joint filers, implementing a one-time rebate of $300 for individuals and $600 for families, and providing targeted relief to small businesses.
In addition, Youngkin has proposed a three-month gas tax holiday to help offset rising costs at the pump due to the Biden administration’s war on American energy independence and the ongoing conflict in Ukraine. Together, Youngkin’s proposals would give Virginia families the biggest tax relief in decades, at precisely the time when individuals and families need it most.
Unfortunately, Senate Democrats have tried every obstructionist trick in the book to kill these tax cuts. Even on measures that have earned broad bipartisan support, such as the doubling of the standard deduction, the Democratic-controlled Senate panel is ridiculously recommending that the proposal be studied for an entire year before any concrete action is taken. Families don’t have an entire year.
With no legitimate argument against Republican tax proposals, Democrats have manufactured controversy with false allegations that cutting taxes would mean cutting funding for schools, first responders, and other services.
But the inconvenient truth for Democrats in Richmond is that the state government will take in $13.4 billion in unanticipated revenue this budget cycle alone. That’s $13.4 billion that belongs to Virginia taxpayers, but which Democrats want to use on bloated government programs and more unnecessary regulation.
In fact, without significant reform, the amount of tax revenue collected by the state government will grow by 40% from 2018 to 2024. In reality, Virginians are severely over-taxed and have been for years under one-party Democratic rule.
What Democrats don’t want voters to find out is that Youngkin’s plan would lower taxes without sacrificing investment in vital programs. Under proposals put forth by the governor and House Republicans, $5.4 billion would immediately be returned to taxpayers, while the rest would be invested
Without significant reform, the amount of tax revenue collected by the state government will grow by 40% from 2018 to 2024.
in things that have bipartisan support — education, law enforcement and other common-sense priorities that matter most to ordinary Virginians.
Democratic objections are a partisan political ploy and have nothing to do with passing good policy. Senate Democrats have time and again referred to themselves as a “brick wall,” childishly celebrating every instance in which they narrowly defeat Republican proposals, no matter how popular they are with the public. Senate Democrats appear much more concerned with feeding the partisan rage of their base and earning likes on Twitter than with making life better for Virginians.
When Virginia voters elected Youngkin and a Republican House majority last November, it was with a clear mandate to deliver on the policies contained in the Republican budget. It’s time for Senate Democrats to do the right thing, seize this historic opportunity, and work with Gov. Youngkin to deliver a real bipartisan victory for the people of our commonwealth.