Youngkin’s Worthy Tax Bargain

null By The Editorial BoardDec. 28, 2023 6:38 pm ETVirginia Gov. Glenn Youngkin Photo: Alex Brandon/Associated PressDemocrats take full if narrow control of Virginia’s Legislature in the New Year, but GOP Gov. Glenn Youngkin is still pressing ahead with a tax reform to help the state’s economy.Mr. Youngkin unveiled his plan last week ahead of January’s legislative session. The centerpiece is a reduction in Virginia’s income-tax rates, which are high compared to its neighbors. He wants to cut the top rate to 5.1% from 5.75% on earnings above $17,000, with similar cuts in each of three lower brackets.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Sponsored OffersTurboTax: Up to 10% off online tax services with TurboTax discount codeThe Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: Get 20% Off H&R Block tax software productsTop Resume: Top Resume Coupon: 10% Off professional resume writingeBay: Unlock 10% Off ord

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Opinion Dec 29, 2023 Add to Reading List

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The Editorial Board

Dec. 28, 2023 6:38 pm ET

Virginia Gov. Glenn Youngkin Photo: Alex Brandon/Associated Press

Democrats take full if narrow control of Virginia’s Legislature in the New Year, but GOP Gov. Glenn Youngkin is still pressing ahead with a tax reform to help the state’s economy.

Mr. Youngkin unveiled his plan last week ahead of January’s legislative session. The centerpiece is a reduction in Virginia’s income-tax rates, which are high compared to its neighbors. He wants to cut the top rate to 5.1% from 5.75% on earnings above $17,000, with similar cuts in each of three lower brackets.