The Cuccinelli Economic Growth & Virginia Jobs Plan
To view a PDF version of this plan, please click here.
Virginia Republican Gubernatorial Candidate Ken Cuccinelli’s Economic Growth & Virginia Jobs Plan is designed to unleash the spirit and ingenuity of Virginia’s innovators, entrepreneurs and job creators; empower middle class families by allowing them to keep more of the paychecks they’ve earned; and reduce government barriers that crowd out economic opportunity in the private sector.
Specifically, the plan includes the following proposals:
- Reduce the individual income tax rate from 5.75 percent to 5 percent;
- Reduce the business income tax from 6 percent to 4 percent;
- Establish a Small Business Tax Relief Commission with the following strategic goals:
- Seek ways to eliminate or reduce the harmful effects of the Business Professional Occupational License (BPOL) Tax, the Machine and Tool (M&T) Tax, and the Merchants Capital (MC) Tax, while maintaining local government revenue;
- Identify and eliminate outdated exemptions and loopholes that promote crony capitalism;
- Ensure state government growth does not exceed inflation plus population growth.