Democrats in Old Dominion continue to push forward with a budget that will impose sweeping new, higher sales taxes on critical products and services across the state.
Virginia has the perfect opportunity to deliver immense tax relief to the hardworking citizens of the state who are struggling to handle inflation. Instead of working on behalf of Virginans, Democrats are ignoring these struggles and increasing taxes on families and businesses and pushing new wasteful spending.
Democrats are continuing efforts to add new regressive taxes on working Virginians and add a novel business-to-business transaction tax. By making B2B digital transactions subject to state sales taxes for the first time in history, Virginia would become an extreme outlier among neighboring states. There is good reason why the vast majority of states do not tax such transactions: doing so leads to unnecessary complexity and permanent price hikes, as the tax is passed on to consumers. It also disincentivizes business investment and economic growth in the state. These efforts would lead to almost $2 billion in additional taxes on families and businesses across the Commonwealth.
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