Budget & Revenue
Better Together: Virginia Should Help Make Work Pay by Strengthening Both the Minimum Wage and Earned Income Tax Credit
Every child in Virginia should go to sleep at night without worrying about whether there will be food for a full day’s meals, and every Virginia parent should know that if they go out and work a full-time job they’ll bring home enough to feed their family and keep a roof overhead.
The EITC Boosts Opportunities for Communities of Color
State and local taxes play an important role in shaping economic opportunity. These tax revenues pay for the schools, roads, parks, and libraries that create a foundation for thriving communities.
Veterans and Their Families Deserve Full Credit
About 55,000 veteran and military families in Virginia currently receive the federal Earned Income Tax Credit (EITC). Virginia has its own
Virginia’s Tax System Is Upside Down
Virginia’s state and local taxes help to shape economic opportunity across the state. Unfortunately, the current state and local tax system is upside down.
EITC Gives a Boost to Women
For too many women in our state, work often does not pay enough. The Earned Income Tax Credit (EITC) helps many hardworking families with low and moderate incomes, especially those with young children, make ends meet and also provides a number of other important benefits for families.
Rural Virginia Would Get a Boost from an Improved EITC
Over 100,000 families in rural and small town Virginia currently receive the federal Earned Income Tax Credit (EITC). That’s about one in six taxpayers who claim the EITC in Virginia.
Virginia’s Tax Choice: Another Break for the Rich or a Targeted Boost to Virginia’s Working Families
Virginia’s tax system is upside down. People earning low or moderate wages pay a higher share of their income in state and local taxes than the very wealthiest individuals, and most corporations pay no state corporate income taxes at all.
The Cost of Sales Tax Holidays
This coming weekend is Virginia’s annual “sales tax holiday.” Although sales tax holidays are pitched as a way to help families on back-to-school shopping, this policy provides little help to families who are most struggling to afford school supplies. Like other tax breaks, the cost of the sales tax holiday has to be made up somewhere in the state budget – either in the form of lower spending or higher taxes. And this one comes with a serious price tag of about $4.6 million per year in forgone state revenue – revenue that could be used to invest in schools.
Sales and Excise Taxes under the Microscope: Impacts by Race
Virginia’s tax system plays a key role in shaping economic opportunity by paying for the building blocks of thriving communities like schools, roads, and libraries. Sales taxes on consumer goods and excise taxes on specific items like gasoline or tobacco products are a significant component of our state