Earned Income Tax Credit Archives

Youngkin’s Business, Personal Tax Cuts Pass Out of House

January 25, 2023January 24, 2023 Eric Burk

The Virginia House of Delegates passed Governor Glenn Youngkin’s bills to cut the business tax rate from six to five percent and the top individual income tax bracket from 5.75 to 5.5 percent. The two bills would also increase individual and business income tax deductions.

“Virginians are still overtaxed, they deserve to keep more of their hard-earned paychecks and today’s significant move by the House of Delegates means Virginians are one step closer to additional relief,” Governor Glenn Youngkin said in a release after the bills passed out of the House on Wednesday.

Youngkin Pitches His $1 Billion Tax Cut Package to Supporters at Rally

January 24, 2023January 23, 2023 Eric Burk

RICHMOND, Virginia — Governor Glenn Youngkin spoke at a small rally on Monday where he shot hoops with children and called for his supporters to pressure their legislators to support the tax relief package included in his budget amendment proposal.

“We can pay for this. We have an expected surplus. We’re projecting continued excess revenues. We can afford this and we can still invest in a record education budget. We can still invest in the transformation of our behavioral health system. We can still invest in law enforcement. We can still invest to make government work for you,” he said.

Youngkin Makes Legislative Pitches During State of the Commonwealth Address

January 12, 2023January 11, 2023 Eric Burk

RICHMOND, Virginia — Governor Glenn Youngkin continued his call for tax cuts, changes to education policy, and increased funding for law enforcement as part of his Wednesday State of the Commonwealth address; he described his first term as a reversal after his Democratic predecessors, and called on legislators to “press the accelerator.”

“I am here this afternoon to communicate that the state of our Commonwealth is substantially better than it was last year,” he said to applause. “We are still a great distance from our destination. A destination where Virginia truly is the best place to live, work, and raise a family. I’m here this afternoon to urge us to accelerate our efforts to get more done and to get it done faster.”

Arizona Gubernatorial Candidate Karrin Taylor Robson Unveils Economic Relief Plan amid Surging Inflation

July 14, 2022July 13, 2022 Neil Jones

Arizona Republican Gubernatorial Candidate Karrin Taylor Robson recently unveiled her economic relief plan, which she would enact if elected as Arizona’s next governor.

“As we’re seeing today, Joe Biden’s inflation is a disaster for Arizona families. I’ve put together an economic plan which focuses on working families – and how we can best set them up for success,” tweeted Robson.

Virginia Budget Includes Some Wins for Both Businesses and Workers

June 25, 2022June 24, 2022 Eric Burk

Virginia’s FY 2023-2024 budget includes some wins for both businesses and workers, according to pro-business organization NFIB Virginia and pro-labor organization Virginia AFL-CIO. General Assembly negotiators have emphasized the compromise nature of the budget, but flashy proposals on tax relief, education, and law enforcement have gotten most of the attention.

“Governor Youngkin and legislators agreed on many issues that are important to Virginia’s small business, including full funding of the commonwealth’s unemployment insurance program, but we’re disappointed that so some key issues didn’t make the final cut, like the three-month suspension of the fuel tax,” NFIB Virginia State Director Julia Hammond said in a press release.

Lamont and Legislators Moving on Connecticut Budget Deal

April 29, 2022April 28, 2022 Bradley Vasoli

Connecticut Gov. Ned Lamont (D) and leaders of the Democrat-controlled General Assembly are touting a $24-billion budget deal for the next fiscal year that contains almost $600 million in tax reduction.

Most of the tax relief, however, will only remain in effect through the end of the year.

Connecticut Lawmakers Clash on Tax Policy at Hearing

March 4, 2022March 3, 2022 Bradley Vasoli

At a Connecticut General Assembly hearing Thursday, state lawmakers clashed on visions of tax policy, with Republicans pressing for sales-tax reduction and Democrats advocating a mix of tax increases and targeted relief.

According to the nonprofit Tax Foundation, 12.8 percent of Connecticut residents’ income goes to government coffers, making the combined state and local tax take the second-highest in the U.S., just behind New York’s 14.1 percent overall burden.

Gov. Ducey Pushing Democratic-Sponsored Bill to Create an Earned Income Tax Credit in Arizona

February 12, 2022February 11, 2022 Rachel Alexander

Arizona doesn’t have an Earned Income Tax Credit (EITC), which mostly gives straight cash to those who don’t earn enough money to obtain a state tax refund, but Gov. Doug Ducey wants to change that. He is supporting SB 1018, sponsored by Senator Sean Bowie (D-Phoenix), which would create one, joining 30 other states which have adopted one patterned after the federal EITC.

A state EITC would take $74 million from the state’s coffers annually and give it to low earners. In order to qualify, income levels would face the same ceilings as the federal credit. Both families and singles are eligible, with a family of four children earning $20,000 maxing out the most with $325.

Virginia Gov. Northam Proposes Partial Grocery Tax Cut, Other Youngkin-Inspired Tax Policies

December 15, 2021December 14, 2021 Eric Burk

Continuing his “Thank You, Virginia” tour, Governor Ralph Northam announced that his upcoming budget proposal will include tax cuts and refunds, including some similar to those Governor-elect Glenn Youngkin has called on Northam to include in his budget.

“When Virginia cuts taxes next year, it should be done in a way that benefits working people,” Northam said in a Tuesday press release. “Many professionals made it through the pandemic fine, as their work simply moved online. But workers haven’t been so lucky when their jobs require close contact with other people. Some jobs simply can’t move online—restaurant workers, early childhood educators, home care attendants, and others—and we all depend on the people who do this work. Virginia can help working people by eliminating the state grocery tax, providing one-time rebates, and giving a tax break to people who are working.”