Friday, December 18, 2009

Kaine Proposes Increasing the State Income Tax

In his final, thankfully, budget proposal Governor Kaine wants to raise the state income tax in the hopes of raising an estimated $1.9 billion per year. He suggests raising the income tax will make it possible to replace the hated car tax.

Kaine, who will leave office Jan. 16, unveiled his spending plan for fiscal 2011 and 2012 in a speech to the General Assembly's financial committees Friday morning on Capitol Square in Richmond.

However, I doubt the legislature or the incoming Governor will allow Kaine's proposals to be implemented.