Virginia Governor: Focus on Tax Fairness

Last week, Virginia Governor Tim Kaine unveiled his proposal to increase the state's income tax threshold. This proposal comes three years after former Governor Mark Warner signed into law a massive tax restructuring that was mostly geared towards adequacy. The current Governor’s proposal builds on past tax reform efforts but is also intended to make the tax structure more fair. He's proposing to increase the personal income tax filing threshold from $7,000 to $12,000 for singles and from $12,000 to $24,000 for couples. Governor Kaine's proposal is a small step towards tax fairness but doesn't do much to offset the regressivity of the state's tax structure.