Our budget and tax reform plan makes Virginia 's tax system fairer. It does this by lowering the income tax for most Virginians; by finally keeping the promise of the car tax cut and the food tax cut; by ending the estate tax for farms & small businesses
and by closing the loopholes that allow many major corporations to avoid paying their fair share. It adds one penny to the sales tax, and it creates a new income tax bracket, affecting less than 8% of upper-income Virginians.
Source: State of the Commonwealth address to the General Assembly
Jan 14, 2004
