Top budget writers including Norment & Jones back responsible plan
RICHMOND, VA – Top budget writers and other General Assembly leaders backed Ed Gillespie’s “Cutting Taxes for ALL Virginians” plan on Friday. Gillespie’s plan calls for a ten percent across-the-board income tax rate cut to be phased in over three years. The plan uses approximately 40 percent of $3.4 billion in projected revenue growth for tax relief while preserving $2 billion for investments in the core functions of government. Senate Finance Committee Co-Chairman and Senate Majority Leader Thomas K. Norment, House Appropriations Committee Chairman S. Chris Jones, House Appropriations Committee Vice Chairman R. Steven Landes, and House Finance Committee Chairman R. Lee Ware joined a number of other General Assembly leaders backing Gillespie’s plan Friday.
“We crafted a responsible plan that provides the tax relief hardworking Virginians need while preserving our ability to invest in the core functions of state government. That’s evident by the broad backing this plan is receiving from the General Assembly leaders who know Virginia’s budget inside and out,” said Gillespie. “As governor I will convene a Special Session of the General Assembly in September of 2018 to cut taxes. The support of our leaders in the General Assembly is critical to implementing this plan, and I thank Speaker Howell, Chairman Jones, Chairman Landes, Chairman Ware, Chairman Marshall, Majority Leader Norment, and Senators McDougle, Sturtevant, and Ruff for their leadership. I look forward to making this blueprint a reality.”
Virginia House of Delegates Speaker William J. Howell (R-Stafford) said, “Ed Gillespie’s bold plan to cut taxes will help families and spark the kind of fundamental, long-term economic growth that our Commonwealth needs. Ed is a true leader who can unify Virginians around conservative policies.”
Majority Leader Norment (R-James City), who serves as the Senate Finance Committee Co-Chairman, said, “Responsible budgeting by the Senate of Virginia has paved the way for Ed Gillespie’s forward-thinking plan to cut taxes to help families and jumpstart economic growth. I appreciate his leadership, vision, and clear commitment to work with the General Assembly to craft a plan that can realistically be accomplished.”
“During my time as Chairman of the House Appropriations Committee, we have made a priority of having a structurally balanced budget, while investing in core services,” said Chairman Jones (R-Suffolk). “Ed shares that same commitment to balancing Virginia’s budget and investing in those core services. Ed also understands that we have the ability to grow our economy and our revenue base faster than the 3.5 percent average growth rate Virginia has experienced since the beginning of the Warner Administration, and certainly more than the anemic growth rates of the past five years. When I came into office in 1998, Virginia’s economy and revenue under previous administrations grew at an average rate of 7.7 percent. This is by far the most responsible tax plan I have seen from a statewide candidate in years. I look forward to working with him on the specifics when he is governor.”
House Appropriations Committee Vice Chairman Landes (R-Augusta), who co-chairs Gillespie’s Government Reform Working Group, said, “Ed Gillespie is a leader committed to cutting taxes for all Virginians. This plan will put more money in the pockets of working families in Western Virginia and create economic growth across the Commonwealth, especially for Virginia’s small businesses. It is the right approach at the right time.”
“Easing the tax burden of Virginians emerges as the principal objective of Ed Gillespie’s ambitious tax-reform proposal, ‘Cutting Taxes for ALL Virginians,’” said Chairman Ware (R-Powhatan). “Here, finally, is a proposal from a candidate for Governor that is detailed, realistic, and achievable. With support from Republican majorities in the House and Senate, Ed’s plan could well become the marquee legislative initiative of the General Assembly in 2018.”
“For too long, Southern Virginia has been an afterthought for governors and statewide candidates, but that’s simply not the case with Ed Gillespie,” said Chairman Danny Marshall (R-Danville), who also serves as Co-Chair of Gillespie’s Jobs and Economic Growth Working Group. “This plan works for all Virginians by cutting taxes that all Virginians pay. It’s a strong proposal that caters to the needs of our community.”
“We need to get our economy growing again and Ed Gillespie has delivered with a serious plan based on conservative principles of lower taxes and less government,” said Senate Republican Caucus Chairman Ryan T. McDougle (R-Hanover).
Senator Glen Sturtevant (R-Richmond), who co-chairs Gillespie’s Government Reform Working Group, said, “Virginia’s hard-working families have been squeezed in an economy that seems to benefit everybody but the middle class. Ed Gillespie will change that with a bold tax cut plan that will benefit all Virginians.”
“I am very encouraged that Ed understands the need to nurture and grow the many great small businesses we have in Virginia,” said Senator Frank Ruff (R-Mecklenburg), Co-Chair of Gillespie’s Jobs and Economic Growth Working Group. “He understands they are the workhorses that can best grow Virginia’s economy.”
Ed Gillespie’s “Cutting Taxes for ALL Virginians” Plan is a conservative, detailed, and achievable plan to cut individual income taxes by ten percent across-the-board. The plan puts nearly $1,300 per year back into the pocket of a family of four and will create more than 50,000 new full-time private-sector jobs.Yesterday, several economists and tax experts praised the plan. The full plan can be found here.