Stephen Haner – Tax Conformity and Reform in Virginia

In late 2017, President Donald Trump won what is probably his signature policy win to date: federal tax reform. However, Virginia, in its 2018 General Assembly Session, failed to conform with the new tax policy. Because of this failure, Virginians are poised to send to the state a whopping $1.2 billion, simply because they’re taking a “standard deduction” at the federal level.

Helping us make sense of this and explaining the legislation before the General Assembly is Stephen Haner, senior fellow with the Thomas Jefferson Institute for Public Policy, which has advanced much of the ideas found in the proposed legislation.

Links of note:

Haner on Bacon’s Rebellion

HB 1851 (Peace)
Virginia income tax; emergency. Advances conformity of the Commonwealth’s tax code with the federal tax code to December 31, 2018, starting with taxable year 2018.

HB 2110 (Freitas)
Virginia income tax; emergency. Advances conformity of the Commonwealth’s tax code with the federal tax code to December 31, 2018, starting with taxable year 2018.

SB 1443 (Stuart)
Virginia income tax; emergency. Advances conformity of the Commonwealth’s tax code with the federal tax code to December 31, 2018, starting with taxable year 2018.