RICHMOND – Governor Terry McAuliffe released the following statement today urging Virginia’s congressional delegation to vote against a tax proposal that overwhelmingly favors corporations and the wealthiest Americans:
“This week, Republicans in Congress put forward legislation that is clearly designed to benefit big corporations and the wealthiest Americans, without concern for the middle class or the national debt.
“I am particularly concerned about the impact that proposed changes to deductions for state and local taxes and mortgage interest will have on Virginia families. In 2015, approximately 1.4 million Virginians claimed $10.5 billion in deductions for state income and sales taxes. And in the same year, 1.1 million Virginia homeowners claimed $11.5 billion worth of deductions for mortgage interest. Eliminating or capping these provisions will take money out of these Virginians’ pockets and use it to finance a tax cut for the wealthy and big corporations.
“Congress has a responsibility to put forward legislation that benefits all Americans, not just the rich or most politically-connected. I urge the Virginia congressional delegation to reject this backward proposal and to do everything in its power to produce a tax reform bill that creates real opportunity for everyday families.”