Euille Criticizes Cuccinelli's Tax Plan

Alexandria Mayor Bill Euille criticized Republican gubernatorial candidate Ken Cuccinelli’s tax plan on Wednesday in a release from the Democratic Party of Virginia, saying it would hurt “Virginia’s strong reputation for fiscal management.” 

“Ken Cuccinelli’s tax plan is not a plan at all,” Euille said. “It is an unrealistic ideological proposal that would have serious negative impacts on local government, including Alexandria.”

Under Cuccinelli’s “Economic Growth and Virginia Job Plan” proposal, the income tax rate would drop from 5.75 percent to 5 percent over four years starting in 2014, and the corporate income tax rate would drop from 6 percent to 4 percent, according to The Richmond Times-Dispatch.

From The RTD:

Cuccinelli said roughly half of the $1.4 billion tax break he offered to Virginians would be financed by projected revenue growth, with additional savings through eliminating what the candidate said are outdated loopholes and exemptions that promote “crony capitalism.”

Those eliminations include the Business Professional Occupational License Tax, the Machine and Tool Tax, the Merchants Capital Tax and reductions to the personal income tax and corporate income tax.

“During my campaign for Governor, as well as my time as Attorney General and in the state Senate, it has always been important to me to get government out of the way and allow the free market to create jobs for unemployed Virginians,” Cuccinelli said in a release introducing his tax plan.

Euille said the proposal includes no detailed way to pay for required costs and would result in cuts to public safety and education that would leave local governments with few solutions.

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