January 5, 2023 News & Press Releases

DPVA Statement on Youngkin’s Tax Handouts for the Ultra-Wealthy

by Democratic Party of Virginia

RICHMOND, VA – Ahead of Glenn Youngkin’s speech on his budget plan today, Democratic Party of Virginia Chairwoman Susan Swecker released the following statement:

“Fresh off campaigning for election deniers across the country, Glenn Youngkin is getting right to work pushing for huge tax giveaways for the ultra-wealthy and biggest corporations. While Virginia’s working families carry the load and pay more than their fair share into our economy, Youngkin is making sure the top 1% and his wealthy donors are off the hook by cutting their taxes yet again as he seeks to boost his own national profile.”

Read more about Youngkin’s tax giveaways below: 

Richmond Times-Dispatch: Youngkin seeks additional $1 billion in individual, corporate tax cuts

⮕ “The governor’s new tax plan would lower the top individual income tax rate from 5.75% to 5.5%, despite a recent state study that recommended moving in the opposite direction to make the state’s income tax system fairer to Virginians who pay a higher share of their income in taxes than the wealthiest taxpayer.”

⮕ “The governor wants to provide tax relief to businesses by cutting the corporate income tax rate from 6% to 5%.”