Ed Gillespie Releases “Cutting Taxes for ALL Virginians” PlanPosted: Updated:
Gillespie launched an aggressive tax reform plan this afternoon, his campaign called "Cutting Taxes for ALL Virginians."
Gillespie rolled out his plan during a conference call Thursday afternoon with reporters. He immediately calls for a 10 percent across the board cut in Virginia's individual income tax rates.
Gillespie was on the line with Republican General Assembly leaders Mark Obenshain and Kirk Cox. They say after years of sluggish economic growth a bold strategy is needed.
The campaign estimates that a family of four would save $1,300 and 50,000 full time private sector jobs would be created. Supporters of the plan say this would provide tax relief for working families.
Gillespie says he would with lawmakers to ensure budget controls are in place in case state revenues dip.
"it is infuriating to me that right now as we speak Virginia is in the bottom 10 states in economic growth on a quarterly basis," said Gillespie.
"I know we can be first in the country in economic growth."
In response GOP gubernatorial candidate Corey Stewart says he would go further than Gillespie by phasing out the state income tax. Stewart also called for more budget cuts.
The Democratic gubernatorial candidates also criticized Gillespie's plan.
Ralph Northam says he supports a top to bottom review of government programs and he's open to responsible tax reform, and Tom Perriello said these tax cuts would be more beneficial to the wealthy.