Tax Credit Elimination Passes

Every session, I make it a mission to find a useless tax credit in the Virginia Code and eliminate it.

This year, my bill is SB 1399 and the target is the tax credit for political donations, which currently enables a potential $25/50 credit on state income tax returns. The total cost to the Commonwealth annually from this donation tax credit is $700,000.

Now I solicit political donations (out of session) and I greatly appreciate those which I receive.  I also make my share of political donations.  So I’m glad to see donors recognized and thanked.

But there is no reason for a donation to be the basis for a tax credit.  No reason to have that question on the state tax return.  No reason to lose that money from the State Treasury.  It’s a personal choice to donate that money.  Nothing more, nothing less.

The Senate Finance Committee evidently agreed, as they passed SB 1399 unanimously this morning.

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  • Virginia Lady

    There’sva creditbfor this? Sheesh.

  • AMCIT

    Thank you. There’s no excuse for it.