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Governor hopeful Ed Gillespie promises ‘tax cuts for all Virginians’

Republican gubernatorial hopeful Ed Gillespie outlines tax plans in Sterling. Times-Mirror/Chantalle Edmunds
Republican gubernatorial hopeful Ed Gillespie outlined his tax policy proposal Thursday, pledging tax relief for all Virginians.

Gillespie appeared in an informal Loudoun County setting this afternoon, speaking at the Sterling home of supporters Mary Gail and Gordon Swenson.

A former lobbyist and Republican National Committee chairman, Gillespie proposes cutting individual income tax rates by 10 percent in the state. If enacted, the tax cut would be the first since 1972. Gillespie said the move would put nearly $1,300 a year back into the pockets of a family of four.

The cut would be phased in over three years and supported by the growth of Virginia's general fund, expected to grow by $3.4 billion over the next five years, according to Gillespie.

Under the plan, $1.3 billion or approximately 40 percent of projected growth would be provided for tax relief. More than $2 billion would still be available for education, health care and other core services.

“I know this will benefit those Virginians who are squeezed between stagnant wages and higher costs for housing, health care, college and food, for those retirees who would like to stay in Virginia but are being drawn to lower tax states. We want them to stay in Virginia,” Gillespie said.

He cited the oft-used statistic that in 2014 Virginia fell to the bottom 10 states in terms of economic growth. He also told those gathered that for three straight years more people have moved out of Virginia than into it.

Gillespie believes his plan will also put Virginia on a path toward meaningful local business tax reform, enabling business formation and job creation.

“...to open a new business and expand an existing one in Virginia, we need to make that a lot easier ... most small business owners, they pay their taxes in the individual code not the corporate tax rate,” Gillespie said. “I think this plan will strengthen our economy and create jobs.”

The former RNC chair noted that any governor would have to watch the federal budget very closely.

President Trump announced his proposed 2018 budget on Thursday. If enacted, his spending plan could see a sizable cutback in the federal non-military workforce and have a major impact on the large numbers of federal workers living in Virginia.

“Some of these cuts cannot be helpful in northern Virginia. One of the things about my plan is that it diversifies our economy and makes us less impacted by federal spending...,” Gillespie added.

“My plan will allow for entrepreneurs, innovators to flourish in Virginia, for small businesses to open and grow and that will take us to an economy that is less impacted by changes at the federal level,” he said.

Booklets outlining Gillespie's tax plans in greater detail were placed on the Swanson's kitchen table for those gathered to take away..

In the room for Gillespie's event were Loudoun County Supervisor Ron Meyer (R-Broad Run), Chairman of the Loudoun County Republican Committee Will Estrada and local business owners.

Though he has never held public office, Gillespie has a lengthy career in politics and Washington. In addition to serving as RNC chair, he was a counselor to President George W. Bush. Gillespie's 2014 Senate bid saw him nearly unseat incumbent Democrat Mark Warner.

Gillespie is one of four candidates seeking the Republican nomination for governor in June. He joins Corey Stewart, chairman of the Prince William Board of County Supervisors; State Sen. Frank W. Wagner (R-Virginia Beach); and Denver Riggleman, co-owner of Silverback Distillery in Nelson County.

Virginia Lt. Gov. Ralph Northam and former Congressman Tom Perriello are competing for the Democratic nomination. 

Comments


While VA’s unemployment rate is low, it is deceptive.  It is deceptive because state revenue from income taxes has fallen significantly year over year.  That means, while people have a job, Virginians are making less money at their job than they previously did.  Meaning further, we are losing higher paying jobs and replacing them with lower wage jobs.  That is not a good trend.


This guy us part of the establishment, would never vote for this lobby lying politician…Ed is the type of politician the people need to get OUT of politics…Not smart to put a fox in charge of the hen house…a vote for Enron Ed would do just that….


MiddleFinger, that would be a national trend. If you want to argue that point what did McAwful do to lower the State unemployment rate. I know Trump has ceased some of the regulations for the coal miners and they are starting going back to work but what has McAwful done? Do tell Einstein.


Start here:

The state’s unemployment rate dropped to 4.1 percent in December, and in 2016, it hit a 40-year low.


NotBuyingTrumpSnakeOil, I would love to hear how Democrats have made Virginia better. That would be like saying RGIII made the Cleveland Browns better. Seriously? Please name me one thing that McAwful has done to make this state better for everyone.


Is this the same kind of promise we heard about keeping our doctors, plans and no new taxes?


Why would we throw away the progress Virginia has made under Democratic leadership in the Governor’s Mansion?  We just had a Republican crook for a governor and I’m not ready to go back to that.  Cut taxes?  How about we talk about improving services and how you’re going to make Virginia better…not some trickle down nonsense that gives tax cuts to the wealthy and cuts programs that help those of us who depend on the state for certain important things.


Did Ed tell the assembly they were going to bring in a smaller budget or is that oversight?


If REAL voter I.D. (not an electric bill) is required in the next election in VA, we’ll have a Republican governor ... and Democrats know it.


No taxes have not been cut.  But, neither has the population, number of roads, number of schools, number of tax breaks to wealthy citizens and corporations.  Tax cut rhetoric works on people with one dimensional mindsets, but, if you understand the reality of modern Virginia, you know that people in this State, and especially those in the Southern part get a big bang for their tax bucks.  Don’t believe me; go to North or South Carolina and tell me what in those States besides NC and Duke Basketball and Clemson Football is better than Virginia?


I am hopeful..watching the progression towards candidacy. Riggleman is out I heard today and Corey Stewart is a non-option.


Ed, tax cuts are nice, but I want the MS13 gang members out of my community and the schools. Let’s start with that.


Since the only other candidate left standing is Frank “I never saw a tax I didn’t like” Wagner, I’m with Ed.

Real tax cuts (and real government cuts) are long overdue.


The swamp speaks the same tax cut talking points…lobbyist Enron Ed is not deserving of a post in an elected position…slime from the establishment…


Mr. G, The fact that the state which you want to govern employs a composite index which extracts well over $500 Million per year from sales tax which should be returned for schools support creates a local hardship in Northern Virginia. You want the popular vote yet have said nothing about the plurality control over such policies which deny northern Virginia its fair share while the state gobbles up the enormous income tax it gets from these northern counties. How about stating something that will improve the fairness of how the people you depend on for votes are treated by the state?
Bob O__ Esq.


Wow - taxes haven’t been cut for HOW MANY years?

Thank you Ed Gillespie for your vision and leadership. The Commonwealth can and WILL be better for ALL Virginians.

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