For months now, Democrats in various locations have been running on talking points about ‘affordability’ but it is just talking points, nothing more.
Case in point, Virginia. Democrats took control of Virginia just days ago and the state is already poised to have the highest tax rate in the country, beating even California.
Does that sound like affordability to you?
From Liberty Unyielding, via the Fairfax GOP:
Virginia State Tax Rate Could Rise From 5.75% to 13.8%, Highest In The Nation
Bills pending in the Virginia state legislature could raise the state income tax a lot. The most likely to pass bill would increase the state income tax rate from 5.75% to 8% on incomes over $600,000 and 10% on incomes over $1,000,000. Another bill would impose an additional 3.8% tax (a “net investment income tax”) on most income above $500,000. If both bills pass, Virginia would have an 13.8% tax rate. That would be higher than what is currently the highest state tax rate in America, the 13.3% rate in California for households with million-dollar incomes. It would be far higher than the top tax rates in the region around Virginia, such as the 3.99% tax rate in North Carolina, the 4.82% rate in West Virginia, and the zero percent tax rate in Tennessee, which has no state income tax.
The most likely to pass bill is HB 979, introduced by Delegate Vivian Watts, the powerful chair of the Finance Committee in Virginia’s House of Delegates. HB 979 “establishes two new tax brackets beginning on and after January 1, 2027, that tax income in excess of $600,000 but not in excess of $1,000,000 at a rate of eight percent and income in excess of $1,000,000 at a rate of 10 percent.”
But wait, there’s more!
Americans for Tax Reform outlines some of the other fun new taxes Democrats are pushing in Virginia:
Under unified Democrat control, Virginia is poised to become a tax-hiking outlier in a region full of states that are phasing out their income taxes. Immediately upon seizing control of government, Virginia Democrats introduced the following bills that seek to impose an array of new and higher taxes:
HB 378 – Imposes a 3.8% net investment income tax on individuals, trusts, and estates beginning in taxable year 2027. If enacted, HB 378 would raise VA’s top marginal income tax rate on portfolio and passive income to 9.55%.
HB 900 – Authorizes sales tax hikes in various transportation districts, imposes a new tax on each and every retail delivery in Northern Virginia (Amazon, Uber Eats, FedEx, UPS, etc.), similar to the one imposed in Minnesota by Gov. Tim Walz (D).
HB 919 – Imposes a firearm and ammunition tax equal to 11% percent of the gross receipts from the retail sale of any firearm or ammunition by a dealer in firearms, firearms manufacturer, or ammunition vendor, as such terms are defined in the bill.
HB 978 – Extends the retail sales and use tax to dry cleaning, landscaping, and other previously exempt services.
Elections have consequences. In Virginia, they are particularly expensive ones. Remember this the next time a Democrat is running on supposed affordability.
The post WHAT HAPPENED TO AFFORDABILITY? Tax Rate in Virginia Poised to Become Highest in the Nation After Democrats Take Over appeared first on The Gateway Pundit.