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.
“Virginians are still overtaxed, they deserve to keep more of their hard-earned paychecks and today’s significant move by the House of Delegates means Virginians are one step closer to additional relief,” Governor Glenn Youngkin said in a release after the bills passed out of the House on Wednesday.
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