RICHMOND, Va. - Gov. Timothy M. Kaine will propose income tax relief for the lowest-income Virginia households in the budget recommendations he presents the General Assembly Friday.
Kaine will ask lawmakers to boost the minimum income level for people who file separately from the present $7,000 a year to $12,000. The threshold for married couples filing jointly would increase from $14,000 annually to $24,000.
From the Richmond Times Dispatch:
RICHMOND, Va. - Gov. Timothy M. Kaine will propose income tax relief for the lowest-income Virginia households in the budget recommendations he presents the General Assembly Friday.
Kaine will ask lawmakers to boost the minimum income level for people who file separately from the present $7,000 a year to $12,000. The threshold for married couples filing jointly would increase from $14,000 annually to $24,000.
So, what's that Republicans are always whining about Democrats getting their "kicks" from raising taxes?
Virginia House Republican Leader Morgan Griffith said it sounded like something he could support, but didn't make a full commitment to supporting it.
Kaine's plan is estimated to fully exempt about 147,000 Virginians from paying ANY income tax. In addition, 176,000 low income Virginians who filed tax returns to receive full refunds would no longer have to file. Governor Kaine went on to say of the plan:
"Why do it? If you have some extra revenue, that's a good time to contemplate it."
Which brings me to my next point. Virginia's economy is BOOMING, and Virginia is projected to enjoy a surplus of $500 to $600 million for the state budget that began July 1. A surplus is something Conservatives love to hate, often ridiculously calling on the government to RETURN any surplus dollars to the people. Well, here's something those who know nothing about economics will be happy to know: On Thursday, Tim Kaine called for $500 million of the state surplus to be used for road and rail projects state wide, and as we all know, Northern Virginia could use some serious help when it comes to fixing their transportation problem. How about this, Republicans please refrain from using any of the improvements until they apologize for being ridiculous, and failing to realize HOW GOOD a budget surplus is for a state!
Among the uses for the $500 million are:
- $305 million for public-private projects on the Capital Beltway in northern Virginia, the Hillsville bypass on State Highway 58, the Interstate 64-264 interchange in Hampton Roads and U.S. Highway 50 in Fairfax and Loudoun counties.
- $125 for rail and transit improvements, the Washington region's Metro service, the Virginia Railway Express commuter line and light rail systems for Norfolk.
- $50 million to relocate rail lines and startup for the Craney Island port expansion project in south Hampton Roads.
- $20 million split between northern Virginia and Hampton Roads for grants to find technological solutions for congestion in the two regions.
Kaine went on to imply that he may push for new revenues to be applied to transportation projects for the second year in a row. So, all of us on the left will gleefully await an apology from the right wingers who constantly bemoan a budget surplus.