Former Virginia House of Delegates Speaker, retired teacher, and 2021 candidate for Governor Kirk Cox on Tuesday urged Democrats in the Virginia General Assembly to utilize the approximately $730 million in additional projected revenues to provide one-time taxpayer rebate checks. Cox’s proposal would provide approximately two million single filers making up to $75,000 with $190 checks, and 987,000 married filers making up to $100,000 with $380 checks.
“Virginia families have been through a lot, but they’ve weathered the storms of the last year with amazing resilience. Through small business shutdowns, forced virtual learning, and repeated failed leadership, they persevered,” said Cox. “Because our families and small business owners found a way to keep working and keep succeeding in spite of the challenges, the Commonwealth has almost $730 million in anticipated revenue for the next two years. That’s certainly good news.
“But let’s be clear: that money belongs to the people who earned it, and I think we should simply give it back. With $730 million, we can provide one-time rebate checks of $190 to individuals and $380 to families.”
“I’ll be the first to admit, these rebate checks aren’t a lot. But for struggling families, it could mean help with the electricity bill, spring clothes for the kids, or tutoring. Whatever it is they use it for, it’s their money and they deserve to keep it,” Cox said.
“In 2018, when Virginia saw a revenue windfall because of federal tax changes, Republican leaders in the General Assembly provided taxpayers with nearly $1 billion in tax relief,” Cox concluded. “Using that same model, we can provide tax relief, help our families and small businesses, and stimulate our economy, all while making sure we don’t create new unnecessary spending we can’t afford in future years.”
For a full breakdown of filers, using the latest Tax department data available online, click here.