Gearing up for the 2016 General Assembly Session, the first few weeks of December are always filled with meetings from area county supervisors, area chambers of commerce, and other offices to discuss opportunities for improvement, legislation and funding for various issues and entities in the district. On Monday, I met with the Campbell County Board of Supervisors. On Wednesday I had the opportunity to meet with the Lynchburg Chamber of Commerce for the annual Pancakes and Politics Breakfast held at Randolph College. I also travelled to the General Assembly Building on Wednesday and held a few meetings on Wednesday and Thursday to work on a few resolutions and bills I am looking at introducing this year.
On Thursday, December 3rd, the Governor announced key tax cut and credit proposals designed to bolster Virginia’s business climate. The Governor’s tax proposals, which support the economic goals in the two-year budget he will unveil on December 17th, include a reduction in the corporate income tax rate, a new research and development tax credit, improvements to two existing tax credits and a reduction in the number of merchants required to make accelerated sales tax payments each June.
I am pleased to see that the Governor will strengthen tax credits in his budget and support a comprehensive review and overhaul of Virginia’s tax structure to promote long-term economic growth that includes a reduction in the corporate tax income rate. I am also glad that the Governor will work with the General Assembly to roll back the unfair budget gimmick requiring accelerated sales tax payments from retailers. I look forward to reviewing these proposals in detail along with the full budget when it is released on December 17th.
If you have any concerns, questions, comments or issues that I or my Aide, Jenna, can help you with, please contact us at (434)821-5929 or email at Delmfariss@house.virginia.gov