President Obama’s fiscal year 2015 budget proposes to increase taxes on individuals by over $820 billion and on businesses by about $500 billion, for a total of over $1.3 trillion in new taxes over the next ten years....
- The Tax Policy Blog
- State Budgets: Virginia Makes Modest Cuts, Proposes Cigarette Tax H...
State Budgets: Virginia Makes Modest Cuts, Proposes Cigarette Tax Hike
Although Gov. Tim Kaine (D) played Santa Claus in giving state workers the day off on Christmas Eve, he warns of a $2.9 billion budget shortfall over the next two years out of a $73 billion budget. His budget proposes layoffs and cuts to education (primarily state-funded K-12 administrators, leaving local districts discretion for where to make other cuts), law enforcement, and transportation, while hiking the cigarette tax by 100% and increasing grants to charities.
More on Virginia here.
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