HB 188, introduced by Virginia Beach Del. Kelly Convirs-Fowler, would add a 10% tax on income over $1M, directing new revenue to schools, child care and housing.
VIRGINIA, USA — A proposal to create a new income tax bracket for Virginia’s highest earners is moving through the General Assembly, aiming to generate new revenue for schools, child care and affordable housing.
House Bill 188, introduced by Del. Kelly Convirs-Fowler of Virginia Beach’s 96th House District, would create a new income tax bracket starting in the 2026 tax year. The proposal would impose a 10% tax on annual income exceeding $1 million.
Virginia will expiereince what happened in MAryland when they went after the millionaires–bye bye Virginia!
Virginia wants to penalize energetic people for prospering. This is not free enterprise, it is bordering communism.
Good! Millionaires and billionaires don’t pay their fair share. Until and unless they do, I say we’re better off without them.