4 in 10 Virginians Would See No Benefit, Federal Government Stands to Gain
A proposal to eliminate Virginia’s top individual income tax rate would overwhelmingly benefit the state’s wealthiest residents, who already spend far less of their household budgets on state and local taxes than any other group. Nearly 40 percent of Virginia taxpayers would see no reduction in their taxes under the plan and most of the rest would see only minor savings.
Navigating Virginia’s New Transportation Funding Package – and Potential Potholes
The final transportation package passed by the General Assembly raises a lot of money for our roads, bridges and mass transit– but it creates some problems, too.
The final legislation (HB2313) makes far-reaching changes in the way transportation is funded in Virginia.
If Federal Government Lowers the Match Rate, Virginia Can Throw the Switch
Medicaid expansion is a good deal for Virginia because the federal government would pay 100 percent of the cost through 2016 and then no less than 90 percent after that. But some Virginia lawmakers, including Governor McDonnell, are raising concerns that the federal government will decrease that generous match rate and shift costs to states.
Virginia’s Funding Formula, State Support for K-12 Falling Behind
As Virginia lawmakers move towards adopting transportation legislation that would divert money from the state’s general fund over to the transportation fund, it is critical to understand how inadequate Virginia’s current funding is for the single biggest area of the state’s budget: education.