| In this message: - Tax Relief or Tax Increases for Working Virginians? - Like Finding Cash in Old Clothes: (Your) Unclaimed Property - Next Wednesday: The Suetterlein for Senate Fall Classic - Next Thursday & Friday: Virginia Education Summit in Radford & Roanoke  |
Dear Friends,
It was good seeing so many friends at the Carroll County Republican Fall Dinner and the Floyd Republicans' Grand Old Pizza Party last weekend and thank you to everyone who joined us in Roanoke County to doorknock with Congressman Morgan Griffith! Our family is looking forward to seeing many of you at the Fall Classic next Thursday!
Tax Relief or Tax Increases for Working Virginians?
On Tuesday, Virginia's influential Joint Legislative Audit and Review Commission released its report: Options to Make Virginia's Individual Income Tax More Progressive. The three primary ways are increasing transfers to Virginians with no income tax liability, increasing taxes on higher earning Virginians, or pursuing broad tax relief like increasing the standard deduction that more than 80% of Virginia taxpayers use and especially benefits lower and middle income working Virginians. Several Democrats would like to see taxes continue to rise despite record tax collections in Virginia. Yesterday, I talked briefly with WFRX's Jackie DeFusco about why increasing the standard deduction and fully eliminating the grocery tax is the best method.
Virginia Finance Secretary Stephen Cummings told JLARC that, "your report recognizes that the changes to Virginia's individual income tax enacted during the 2022 legislative session will substantially reduce the tax liabilities of low- and moderate-income taxpayers. In particular, the General Assembly adopted amendments to the general appropriation act proposed by Governor Youngkin that include a near doubling of the standard deduction, from $4,500 to $8,000 for individuals and from $9,000 to $16,000 for married taxpayers filing a joint return. In addition, the state portion of the grocery tax was eliminated, providing much needed relief to families for whom food is a large share of their budget, particularly in these times of record high inflation. These changes will significantly lower the tax burden on Virginia taxpayers, especially for low- and middle-income Virginians. While not income taxes, taxes that are particularly regressive, such as the grocery tax, gas tax, and the carbon tax disguised as RGGI, continue to burden those Virginians who can least afford it."
I'm proud of the successful income tax relief and grocery tax relief legislation that Delegate Joe McNamara and I worked with our colleagues to advance and was signed into law by Governor Glenn Youngkin in 2022. For the previous 8 years, Governors Terry McAuliffe and Ralph Northam kept enacting policies it more expensive to be a working Virginian. In 2023, we are going to continue the work with Governor Youngkin to reverse that!
Like Finding Cash in Old Clothes: (Your) Unclaimed Property
The Virginia Department of the Treasury Unclaimed Property Division has launched a new website to help Virginians retrieve money owed to them. Virginia's consumer protection laws require businesses to turn unclaimed property over to the Commonwealth, relieving the business of the financial liability. Virginia holds unclaimed property as the custodian until the rightful owner, or heir, files a claim. Since this program was created in 1961, over $1 billion in unclaimed property has been returned to Virginia citizens. You can check here if you or your business have unclaimed property that should be coming back to you.
Next Wednesday: The Suetterlein for Senate Fall Classic
Next Wednesday, October 26 is our Suetterlein for Senate Fall Classic celebrating the start of the World Series and raising important funds for the campaign. If you support our efforts, this is a great opportunity to bring your family and friends and come enjoy an evening of baseball and great ball park food including ice cream in mini batting helmets. Please RSVP here.
Next Thursday & Friday: Virginia Education Summit in Radford & Roanoke
The Senate Education and Health Committee and the House Education Committee will be meeting jointly at Radford University on Thursday, October 27 and at the Hotel Roanoke on October 28 to prepare for the 2023 General Assembly. With the exceptions of meals, reception, and tour, the meetings are open to the public. You are welcome to come hear presentations on early childhood education, educator diversity, literacy instruction, career and technical education, and more. Details for the meetings are available here.
Share Your Thoughts
As always, you can share your thoughts with me at 540.302.8486 or this email address. You can also keep up with my legislative efforts on Facebook.
Thank you for the opportunity to serve our Commonwealth in the Virginia Senate!
Sincerely,
David Suetterlein
Posts
