The Republican-led Committee on Finance advanced legislation Monday to prevent Governor Ralph Northam’s middle-class tax increase and ensure $950 million in middle-class tax relief.
Legislation carried by Delegate Tim Hugo (HB2529) and Delegate Chris Jones (HB2533) works in tandem to ensure that all additional individual tax revenue from the Tax Cuts and Jobs Act is set aside in a Taxpayer Relief Fund and used to provide tax relief for those affected by federal and state tax law changes.