This is from an AP story:
Besides a budget bill that deeply cuts funding for state-supported colleges, mental health services and public safety, Kaine is preparing a separate bill that would phase in a 1 percent income tax increase over two years.
The massive income tax increase generates about $400 million a year more than the $1.6 billion the car tax now raises for localities. Local governments would also receive additional revenue from the income tax.
Since the increase is described as massive, I assume this is another arithmetically challenged scribe who means a 1 percentage point increase, not a 1 percent increase.
From 5.75% to 6.75% is a 17% increase!!
As Corin S. rightly points out Kaine is a lame duck who has to write a basically pointless budget that will be entirely ignored.
There better not be talks of tax increases by the new administration in this economy or someone aint’ a conservative after all...