Budget & Tax

Virginia’s tax brackets haven’t been updated in thirty years and still reflect income levels from the late 1980’s, there is a growing gap between our revenues and our needs. At TCI we analyze Virginia’s budgetary, tax, and fiscal policies, and provide independent, credible research to build support for policies that will help hard-working families who struggle to get by economically.

Meet the Analyst: Click to hear about a tax solution for today.

Key Priorities

• Strengthen the state’s earned income tax credit to help working families

• Update the state income tax rate structure so average Virginians don’t pay the same rate as millionaires

  • Close corporate tax loopholes, including single-sales factor apportionment and the use of ”nowhere income.”

• Attach sunset provisions to tax breaks and close corporate loopholes

• Modernize the state sales tax to reflect a changing economy

Click image for PDF February 20, 2018 Comparing the governor’s and money committee’s proposed changes to the 2018-2020 budget click image for PDF The House Appropriations and Senate Finance committees released their proposed changes to the 2018-2020 budget (FYs 19 and 20) on Sunday, February 18, 2018. Click here or on the image at left for our summary level assessment of certain key changes and other noteworthy information proposed by the money committees and governor compared to the current budget.