Richmond Times-Dispatch: Republican Ed Gillespie rolls out tax-cutting plan as ‘centerpiece’ of campaign for governor
Republican gubernatorial front-runner Ed Gillespie unveiled a tax reform plan Thursday that would cut Virginia’s individual income tax rate for the first time since 1972 and push cities and counties to scrap local business taxes, a proposal Gillespie said would be the “centerpiece” of his campaign.
Gillespie said his “across-the-board” tax cut, paid for with new revenue the state expects to receive in the years ahead, would spur ground-up economic growth, let Virginians keep more of the money they earn and reverse Virginia’s slide in rankings of business-friendly states.
“We have got to foster natural organic growth, small-business creation, more emphasis on startups and scale-ups,” said Gillespie, a former Republican National Committee chairman and political consultant who holds significant polling and fundraising advantages over his two opponents in the Republican primary. “It will mean fewer splashy press releases from the governor’s office, but the fact is that is the key to long-term, sustainable, good job creation in the private sector in the commonwealth.”
WUSA9: Gillespie proposes first Va. income tax rate cut in 45 years
Republican candidate for Virginia governor Ed Gillespie announced a sweeping set of proposals aimed at cutting taxes for families in the Commonwealth Thursday, calling for a 10 percent income tax rate cut – the first state cut since 1972.
The plan, enacted over three years, projects $1,300 in annual savings for an average family of four. The policy would attract an estimated 50,000 new full-time jobs, based on economic modeling from two conservative think tanks, the Thomas Jefferson Institute and Beacon Hill Institute.
“This is the first part of a broad policy agenda that will get Virginia moving again,” Gillespie said in a conference call Thursday. “Bringing down taxes on hard working Virginians will make it easier to establish businesses… And I think we’ll see more revenue coming in as a result of these across the board cuts.”
Washington Post: Virginia GOP gubernatorial candidate Ed Gillespie proposes modest tax cuts
Virginia Republican gubernatorial candidate Ed Gillespie is proposing what he bills as the first-ever income tax cut in that state, releasing a plan Thursday that calls for redirecting future state revenues for modest decreases in tax rates.
Gillespie’s proposal would phase in an across-the-board 10 percent decrease in tax rates, if the state’s economy grows as projected over the next five years. At the highest level, Virginians would pay a 5.15 percent tax instead of 5.75 percent on income above $17,000.
His campaign says this would translate to annual savings of almost $1,300 for a family of four and reduce state tax revenues by $1.3 billion when fully phased in.
AP: GOP Candidate Ed Gillespie Pledges to Cut State Income Taxes
Virginia Republican gubernatorial hopeful Ed Gillespie says he’s going to make cutting taxes a centerpiece of his campaign.
Gillespie said Thursday he would trim state income tax rates for all tax brackets in Virginia. The plan would lower taxes on income over $17,000 a year from 5.75 percent to 5.15 percent.
Gillespie says the move would grow the economy. He says he would pay for the tax cuts with a portion of expected state revenue growth, not with cuts to state spending.
Daily Caller: Va Gov Candidates New Tax Plan Is All About Jobs
Republican gubernatorial candidate Ed Gillespie unveiled a new tax plan Thursday, according to a campaign release, and the focus is increasing economic growth.
The proposed tax plan will include a 10 percent reduction in personal income tax, across-the-board, leading to an estimated $1,300 savings on average to a family of four, according to the release.
“We’ve had five straight years where our economic growth rate was below national growth rate,” Gillespie said in a press conference. “Virginia was in the bottom ten percent of all 50 states in terms of economic growth.”
Gillespie wants to encourage local governments to find more business-friendly policies that will enable localities to control their own growth independent of the state government. “We would work with the localities, to have a partnership in order to find ways to increase economic growth all across Virginia.”
Loudoun Times-Mirror: Governor hopeful Ed Gillespie promises ‘tax cuts for all Virginians’
Republican gubernatorial hopeful Ed Gillespie outlined his tax policy proposal Thursday, pledging tax relief for all Virginians.
Gillespie appeared in an informal Loudoun County setting this afternoon, speaking at the Sterling home of supporters Mary Gail and Gordon Swenson.
Gillespie proposes cutting individual income tax rates by 10 percent in the state. If enacted, the tax cut would be the first since 1972. Gillespie said the move would put nearly $1,300 a year back into the pockets of a family of four.
The cut would be phased in over three years and supported by the growth of Virginia’s general fund, expected to grow by $3.4 billion over the next five years, according to Gillespie.
WDBJ7: Gillespie proposes state tax cut
The Republican frontrunner in the race for Governor is proposing an across-the-board tax cut.
On Thursday afternoon, Ed Gillespie said he would support a 10 percent reduction in Virginia’s income tax, a reduction he says would save the average family of four almost $1,300 a year.
“And so i am excited about the across the board tax relief for all Virginians at the state level,” Gillespie said in a telephone news conference. “And think it will have a very beneficial impact for Virginians who have not seen their wages go up in years, but have been hit by higher costs for health care and food and college tuitions.”
WCVE: GOP’s Gillespie to Focus Campaign on Tax Cut
Republican gubernatorial front-runner Ed Gillespie unveiled on Thursday (3/16) what he called the centerpiece of his campaign: a tax cut.
Not since Jim Gilmore, who got the Governor’s Mansion by vowing to kill the car tax, has a candidate unveiled such bold strokes: a 10% chop in the state income tax and elimination of local levies on business machines and revenue.