This RINO Governor just proposed a budget that both cuts taxes and raises them

Dec 29, 2023

He was once considered a possible frontrunner for President in 2024.

But then his sellouts got so big he lost everything.

Now this RINO Governor just proposed a budget that both cuts taxes and raises them.

Virginia’s RINO Governor Glenn Youngkin is up to his old tricks.

Raising taxes to “cut” them

Youngkin was once thought to be considering a run for the GOP nomination for President in 2024, and many considered him to be a strong candidate.

Then he oversaw a disastrous election effort in the 2023 Virginia state elections, which saw the GOP lose the House and remain in the minority in the State Senate.

This came amid his “brilliant” strategy of selling out the base on everything from spending, to abortion, and guns.

Election night resulted not only in the loss of the legislature but also in the end of any Presidential speculation for Youngkin.

But it appears Youngkin didn’t learn any lessons from the drubbing he took.

Now Youngkin has proposed a new budget, which both raises taxes and cuts taxes.

While the Governor’s plan includes a 12% reduction of income taxes, he wants to offset the estimated annual revenue loss of $2.3 billion by increasing the state’s sales tax rate from 4.3% to 5.2%.

Conservatives in the state are understandably underwhelmed by the tax cut/tax increase plan.

And Youngkin’s plan also includes a provision that would close the so-called “tech tax loophole” on digital goods that are currently classified as tax-exempt services.

This means Virginia would start taxing online music downloads from platforms such as Apple Music.

But it’s even worse than that

Youngkin claims his plan is “a big first step” in allowing Virginia to compete with other Southern states with lower income tax rates, like North Carolina, West Virginia,  Georgia, Tennessee and Florida, which have no income tax at all.

But actually, under the Youngkin plan, the actual income tax would rise by almost a full percent.

As Youngkin said, “In order to meaningfully offset that income tax reduction, but also to diversify our tax receipts which are so weighted toward personal income tax while sales taxes are much more stable from a state receipts standpoint, we are going to close the tech tax loophole and raise the overall state income tax by 0.9%.” 

Conservatives and many of his fellow Republicans are not at all thrilled by his tax raising scheme.

And Democrats were expectedly derisive of the plan.

“While we appreciate Governor Youngkin for sharing his budgetary vision today, it is imperative that we have a thorough examination of his proposal,” said Delegate Luke Torian, D-Prince William, the designated chairman of the incoming House Appropriations Committee. 

Senate Democrats issued a joint statement that called Youngkin’s budget proposal “absolutely disgraceful” and a “slap in the face of our most vulnerable individuals who call our commonwealth home.” 

Youngkin also didn’t mention in his speech about the plan that low-income Virginians are already exempt from income tax obligations, and will feel the costs of a sales tax hike. 

It’s also worth noting Youngkin’s $62.9 billion budget also includes spending increases like an additional $10 million for a new inland port in Southwest Virginia.

The good news for Virginians is that Youngkin is only allowed one term.

Hot Take Politics will keep you up-to-date on any developments to this ongoing story. 

 

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