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tax cuts

Dec 31, 2024

Banking and finance experts optimistic but cautious regarding new administration’s impact 

The banking and finance industry could see gains under the incoming federal administration, those in the field say, with President-elect Donald Trump’s proposed plans of a lower-interest-rate environment coupled with lighter regulatory oversight on the horizon.    They also note, however, that many proposals may never come to fruition or take some time before their impacts […]

Dec 16, 2024

Youngkin proposes eliminating tax on tips in Va. budget

Gov. Glenn Youngkin announced Monday a budget proposal to exempt service tips from Virginia’s state income tax, an idea that’s gained bipartisan support federally. In a statement, Youngkin said that Virginians who receive tips — hair stylists, restaurant workers, bellhops and other service industry professionals — would benefit from being able to claim deductions on […]

Va. Secretary of Finance Stephen Cummings
Jan 25, 2023

Tax cuts are the way to grow

Virginia’s finances are in excellent shape, paving the way for the General Assembly to agree with Gov. Glenn Youngkin that it’s time to cut taxes in the commonwealth. It’s your money, not the government‘s, and the government has collected too much of it over the last few years. In a snapshot, Virginia’s coffers are full. […]

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