1/24/23

Governor Glenn Youngkin is taking his proposed tax relief plan to the people.

During a campaign-style rally last night in Richmond, the governor lamented a decade-long out-migration in the commonwealth while states like North Carolina are seeing six-figure population growth. He told a crowd containing some members of the General Assembly that his suggested tax cuts could make the commonwealth a “winner” again.

He’s proposing one-billion-dollars in tax relief, including cutting the individual income tax rate by a quarter-percent and increasing the standard deduction by one-thousand for single taxpayers and two-thousand for joint filers.

A one-percent corporate tax cut is also on the table.