Virginia Governor Youngkin advocates for the abolition of tip taxes prior to the commencement of the legislative session.
Gov. Youngkin stated that removing tips from taxable income would directly increase the take-home pay of hundreds of thousands of Virginians.
Glenn Youngkin, the Republican governor of Virginia, is advocating for the removal of taxes on tips prior to the upcoming legislative session.
According to Youngkin's office, this proposal is estimated to return $70 million annually to the pockets of Virginia workers.
More than 250,000 individuals in Virginia who work in the food service, personal service, hospitality, and other industries that receive tips through their employment could benefit from an end to taxes on tips.
Youngkin stated in a release that over $5 billion in tax relief has been delivered by them, and they remain dedicated to reducing the cost of living for hardworking Virginians. He emphasized that the money belongs to the people, not the government.
Removing tips from taxable income will increase the take-home pay of hundreds of thousands of Virginians, providing them with more buying power and improving their financial stability, which will ultimately stimulate local economies and recognize the value of their hard work.
If the income from tips earned by Virginia workers is included in their federal adjusted gross income, they would be eligible to claim a deduction on their state tax return, according to the release.
"Youngkin stated on Planet Chronicle' "America's Newsroom" on Monday that keeping more money in their pockets is a better option than giving it to the government. Since Virginia is already running surpluses, there will be no taxes on tips, which will become the mantra in the state."
During her campaign, Vice President Harris supported the elimination of taxes on tips, which is also proposed by Governor.
Youngkin's proposal, which is set to be presented before Virginia's legislative session begins next month, needs approval from the General Assembly. However, it is uncertain if Democrats, who hold a majority in both chambers, will back the proposal.
In the upcoming gubernatorial race in Virginia, Lt. Gov. Winsome Earle-Sears, a Republican, is predicted to compete against U.S. Rep. Abigail Spanberger, a Democrat.
politics
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