Press Release: Senate Republicans Unveil $1 Billion Tax Relief Plan
RICHMOND, VA, 30 JANUARY 2019: The 21-member Senate Majority Republican Caucus today unveiled a plan to provide Virginia taxpayers with nearly $1 billion in tax relief over the next two years.
“The plan all Senate Republicans are united behind will give every Virginian who pays personal income taxes a rebate this year and lower taxes through at least 2025,” declared Senate Majority Leader Thomas K. Norment, Jr. (R-James City), Co-Chairman of the Senate Finance Committee. “When fully implemented, our plan will return nearly $1 billion to the people of Virginia. Our plan is simple, direct, and for the many, not the few.”
“This plan would be the second largest tax cut in Virginia history, and will directly benefit more than four million Virginians who file personal income taxes,” said Senate President Pro Tempore Stephen D. Newman (R-Bedford). “The plan we are proposing provides relief this year and into the future, ensuring Virginians get to keep more of their hard-earned dollars. It also helps make sure government lives within its means.”
“This is a fiscally responsible approach to providing tax relief for the people of Virginia,” noted Senator Emmett W. Hanger, Jr. (R-Augusta), Co-Chairman of the Senate Finance Committee. “This plan allows Virginia to limit spending increases and maintain a low, sustainable rate of growth.”
The Senate Republican Tax Relief Plan is part of Senate Bill 1372. The legislation was approved by an 11-to-5 vote in the Senate Finance Committee today.
Paid for by the Virginia Senate Republican Caucus