Virginia Action Alert: State House Vote Today
Below is a summary of the bill that was passed by the House Finance Committee last week. The full House of Delegates will vote on this bill on Monday, April 12. The Delegates listed below need to hear from CSE activists ASAP.
The message: the Parrish/Bryant tax hike proposal must be defeated!
L. Preston Bryant, Jr. 434-528-1097
Charles W. Carrico, Sr. 276-773-9600
James H. Dillard, II 703-323-9556
William H. Fralin, Jr. 540-772-7600
Phillip A. Hamilton 757-249-2580
Clarke N. Hogan 434-575-0000
Robert Hurt 434-432-4600
Riley E. Ingram 804-458-9873
S. Chris Jones 757-483-6242
Daniel W. Marshall, III 434-797-5861
Harvey B. Morgan 804-693-4750
David A. Nutter 540-382-7731
G. Glenn Oder 757-930-8683
Robert D. Orrock, Sr. 540-891-1322
Harry J. Parrish 703-367-0505
Harry R. Purkey 757-481-1493
Thomas Davis Rust 703-437-9400
Christopher B. Saxman 540-886-8284
Harry Parrish and Preston Bryant Tax Hike Proposal; HB5018:
$1.5 billion increase (40 % greater than Governor’s)
Adds:
-1/2-cent sales tax (not on food): $690 million per biennium.
-22.5-cent increase in cigarette taxes (‘04) then another .5-cents (‘05): $150 mil per
annum, $300 million per biennium.
-Real estate recordation fee increased by 10-cents per $100 (currently 15-cents):
$115 million per annum, $230 million per biennium.
– Public service corporations, except fuel (utilities) sales tax exemption removed:
$68 million per annum, $136 million biennium.
-Senior income tax deduction, grandfathers current recipients, but removes for
certain others: $48 million per annum, $96 million biennium.
-Tax on corporations that are Inc. in Delaware: $32 million per annum, $64 million biennium.
TOTAL: +$1516 million per annum
Remove:
-reduces food tax: $146 million biennium
-phase our death tax (for wealthy over $10 million too): $226 million per biennium
-increase personal exemption: $112 million per biennium
-eliminate marriage penalty: $30 million per biennium
-raise threshold for filing income tax: $9 million per biennium
-reversing execrated sales tax collections (requires businesses to pay sales tax
early), one time revenue: $181 million per biennium
TOTAL: –$704 million per annum
House figures say: Net new general revenue for biennium: $972.5