Ed Gillespie on Tax Reform
The Gillespie campaign said Tom Perriello's plan could increase the costs of services "like a haircut or an auto repair" and hurt job growth by raising taxes on small business owners. Perriello said his plan would create a "level playing field" for small businesses [by raising taxes on the highest personal income tax brackets as well as on big business].
"The contrast in the two plans is clear," said Gillespie spokeswoman Abbi Sigler. "Ed wants to cut taxes for all Virginians. Tom Perriello believes in a bigger government funded by tax hikes that harm economic growth and job creation."
Stewart called Gillespie's plan a "charade," and for good reason. It relies on that most dangerous of concepts: revenue projections. Gillespie's plan would use "40% of projected revenue growth for tax relief" and use the rest of that projected growth to cover "new spending over the next five years."
It sounds responsible. But projecting future revenue flows--even with the most sophisticated modeling--is guesswork. And even if the guesses are correct, they [don't account for] the rainy day fund, the water quality fund, the transportation trust fund and other priorities, including pay raises for state workers.
Gillespie says his cut would take just $1.3 billion from state coffers. Looking at the balance sheet, Virginia doesn't have that money to give.
[As part of the Contract with America, within 100 days we pledge to bring to the House Floor the following bill]:
The American Dream Restoration Act:
A $500-per-child tax credit, begin repeal of the marriage tax penalty, and creation of American Dream Savings Accounts to provide middle-class tax relief.
|Other candidates on Tax Reform:||Ed Gillespie on other issues:|
Retiring in 2014 election:
Retired as of Jan. 2013:
Senate races 2017-8:
AL: Strange(R) ; no opponent yet
AZ: Flake(R) vs. Ward(R)
CA: Feinstein(D) vs. Eisen(D) vs. Sanchez?(D) vs. Garcetti?(D)
CT: Murphy(D) ; no opponent yet
DE: Carper(D) vs. Biden?(D) vs. Markell?(D)
FL: Nelson(D) vs. DeSantis(R) vs. Jolly(R) vs. Lopez-Cantera(R)
HI: Hirono(D) ; no opponent yet
IN: Donnelly(D) vs. Hurt(R)
MA: Warren(D) vs. Ayyadurai(R)
MD: Cardin(D) ; no opponent yet
ME: King(I) vs. LePage?(R)
MI: Stabenow(D) vs. Bouchard?(R)
MN: Klobuchar(D) vs. Paulsen?(R)
MO: McCaskill(D) vs. Kinder?(R)
MS: Wicker(R) vs. McDaniel?(R)
MT: Tester(D) vs. Racicot?(R)
ND: Heitkamp(D) vs. Becker?(R)
NE: Fischer(R) ; no opponent yet
NJ: Menendez(D) vs. Chiesa(R) vs. Codey?(D) vs. Chiesa?(R)
NM: Heinrich(D) vs. Sanchez(R)
NV: Heller(R) vs. Sandoval?(R)
NY: Gillibrand(D) vs. Kennedy?(D)
OH: Brown(D) vs. Mandel(R)
PA: Casey(D) vs. Saccone(R)
RI: Whitehouse(D) ; no opponent yet
TN: Corker(R) vs. Crim(I)
TX: Cruz(R) vs. Bush?(R)
UT: Hatch(R) vs. McMullin?(R) vs. Romney?(R)
VT: Sanders(I) vs. Giordano(D)
VA: Kaine(D) vs. Cuccinelli?(R) vs. Fiorina?(R)
WA: Cantwell(D) ; no opponent yet
WV: Manchin(D) vs. Raese(R) vs. Goodwin?(R)
WI: Baldwin(D) vs. Grothman?(R) vs. Gallagher?(R)
WY: Barrasso(R) ; no opponent yet
Senate Votes (analysis)