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Youngkin’s Business, Personal Tax Cuts Pass Out of House


The Virginia House of Delegates passed Governor Glenn Youngkin’s bills to cut the business

tax rate from six to five percent and the top individual income tax bracket from 5.75 to 5.5 percent. The two bills would also increase individual and business income tax deductions. The bills will need Democrat support to pass out of the Senate; House Democrats argued in favor of an alternate suite of tax relief more targeted at low-and moderate-incomes.

 
 
 

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