Us News

Virginia Gov. Youngkin wants to end the tax on tips before the legislative session

Join Fox News to access this content

You have reached your maximum number of articles. Sign in or create a FREE account to continue reading.

By entering your email and clicking continue, you agree to Fox News’ Terms of Use and Privacy Policy, which includes our Financial Incentives Notice.

Please enter a valid email address.

Having a problem? Click here.

Virginia Gov. Glenn Youngkin, a Republican, wants to end the tip tax before the next commonwealth legislative session.

The proposal would put about $70 million a year back into the pockets of Virginia workers, Youngkin’s office said in a Monday press release.

Ending taxes on tips would help more than 250,000 people in Virginia who work within the food service industry, the personal service industry such as hairstylists, the hospitality industry and others who receive tips through their employment in other industries.

“We’ve delivered more than $5 billion to date, and we’re still committed to lowering the cost of living for hard-working Virginians. It’s their money, not the government’s,” Youngkin said in the release.

YOUNGKIN TO DO SANCTUARY CITY BLOCK, MAKES GOVERNMENT SUPPORT FOR ICE ACTION

Glenn Youngkin, governor of Virginia, during the Republican National Convention (RNC) at the Fiserv Forum in Milwaukee, Wisconsin, Monday, July 15, 2024. (Eva Marie Uzcategui/Bloomberg via Getty Images)

“By removing tips from taxable income, it will directly increase the take-home pay of hundreds of thousands of Virginians and give them purchasing power, which will improve financial stability, stimulate the local economy, and honor the value of their hard work,” he continued.

Virginia workers who earn tips will be able to claim the deduction on their state tax returns if the income is included in their adjusted gross income, the release said.

Gov. Youngkin speaks in DC

Virginia Governor Glenn Youngkin speaks at the Road to Majority Faith and Freedom Conference in Washington, DC, on June 22. (Andrew Leyden/NurPhoto via Getty Images)

“This is a way to keep more money in their pocket instead of giving it to the government. We already spend a lot of money so, no tip tax will be a manta in Virginia,” Youngkin said Monday in a statement. Fox News’ “America’s Newsroom.”

The governor’s proposal echoes President-elect Trump’s call during his campaign to end the tip tax. Vice President Harris also expressed support for ending the tip tax during his presidential campaign.

GLENN YOUNGKIN ‘INVITES’ NEW TRUMP ADMIN TO RUN IN VIRGINIA OVER MARYLAND AND DC

Glenn Youngkin

Virginia Gov. Glenn Youngkin speaks during the Faith & Freedom Coalition’s Road to Majority Policy Conference at the Washington Hilton on June 22, 2024, in Washington, DC. (Samuel Corum/Getty Images)

CLICK HERE FOR THE NEWS PROGRAM

The proposal comes ahead of the start of Virginia’s legislative session next month. It would require approval from the General Assembly, and it is unclear whether Democrats, who control both chambers, would support Youngkin’s proposal.

Next year, the gubernatorial race of Virginia will be held, where Lt. Gov. Winsome Earle-Sears, a Republican, is expected to face Rep. US Abigail Spanberger, Democrat.


Source link

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button