Political outsider, successful business leader, and Republican nominee for governor Glenn Youngkin’s campaign announced the launch of a digital ad campaign highlighting Terry McAuliffe’s proposed tax hike, which would be the largest in Virginia history.
A fiscal analysis by the Thomas Jefferson Institute for Public Policy found that McAuliffe’s budget would increase spending in Virginia by $8 billion over the next biennium and would impose the largest tax increase in Virginia history, costing Virginia families $5,400.
“While he was Governor, Terry McAuliffe’s policies raised the cost of living in Virginia. Now, McAuliffe is recycling his 130 pages of failed policy proposals and is refusing to say how he will fund them. McAuliffe knows that his tried and failed policies will slap Virginians with thousands in new taxes and will continue to raise the cost of living, further hurting Virginians recovering from the pandemic,” said Youngkin campaign spokesperson Matt Wolking. “Glenn Youngkin will continue to speak with voters about his plans to cut costs by eliminating the grocery tax and slashing taxes for all Virginians.”
In August, Youngkin proposed tackling cost of living and cutting costs for Virginians by $1,500 in his Day One Game Plan by:
Eliminating Virginia’s Grocery Tax & Suspending the Recent Gas Tax Hike for 12 Months
Providing a One Time Tax Rebate of $600 for Joint Filers and $300 for Individuals
Ending Runaway Property Taxes by Requiring Voter Approval for Increases
Cutting Income Taxes by Doubling the Standard Deduction & Cutting Taxes on Veteran Retirement Pay
Virginians were overtaxed by $2.6 billion last fiscal year alone. The Virginia gas tax has increased by 136 percent since 2014, costing families hundreds of dollars per year. Meanwhile, Virginia remains one of 13 states that slaps a tax on groceries, hurting families who are trying to feed their children. Over the last eight years, the general fund revenues have increased at two times the rate of GDP growth.
Virginia simply can’t afford Terry McAuliffe.