Quick quiz: what's more important, a) helping save 871 of the richest Virginia households from the supposed horrors of the Estate Tax, or b) saving the Chesapeake Bay and achieving Gov. Kaine's goal of conserving an additional 400,000 acres of Virginia land by 2010? Duh.
Unfortunately, it's "dumb and dumber" time among Virginia General Assembly Republicans, who just yesterday agreed on a budget deal that will axe the Estate Tax in order to benefit almost nobody (871 households that reported any liability in FY 2005). According to the Charlottesville Daily Progress:
Late budget negotiations have brought back to the table a cap on the Land Conservation Tax Credit, a financial incentive for landowners who put their property into a conservation easement. The Senate has proposed a statewide cap on funding, with limits on how much tax credit can be given per easement. Those involved in the negotiations say the funds have been put on the chopping block to pay for the elimination of Virginia+óGé¼Gäós estate tax.
Local environmental officials have worried for months that such a cap could be imposed, a move they say would drastically reduce the number of acres protected from development in the state. Last month, Gov. Timothy M. Kaine set a goal of adding 400,000 acres of conservation easements by 2010, in part to address Chesapeake Bay protection concerns.
Oh, and there's no money for transportation either in this budget-from-hell. That's supposed to come later. Suuuuuure it is.
In sum, according to the Daily Progress:
The months-long budget battle has produced dramatic transportation cuts and a proposed limit on tax incentives for conservation easements, worrying county officials and environmental leaders who are seeing support for important road projects and aggressive conservation efforts slip away.
Great job, Republican-controlled General Assembly. You rock! Not.
After all, those families can always find a new beach somewhere that hasn't been trashed, but those legislators can't win without lots of money, since they are screwing everybody else over!