What ever happen to removing the Food tax in VA

[Anonymous]

Does anyone know what ever happen to repealing the Food Tax in VA? Did they forget about it?

[Anonymous]

There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

[Anonymous]

Anonymous wrote:Does anyone know what ever happen to repealing the Food Tax in VA? Did they forget about it?

It is not a tax on food, it is a tax on food purchased from grocery stores.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does anyone know what ever happen to repealing the Food Tax in VA? Did they forget about it?

It is not a tax on food, it is a tax on food purchased from grocery stores.

While they're at it, can the bag tax be repealed as well?

[Anonymous]

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Does anyone know what ever happen to repealing the Food Tax in VA? Did they forget about it?

It is not a tax on food, it is a tax on food purchased from grocery stores.

While they're at it, can the bag tax be repealed as well?

I think the bag tax is local. my grocery store offers paper bags for free.

[Anonymous]

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Does anyone know what ever happen to repealing the Food Tax in VA? Did they forget about it?

It is not a tax on food, it is a tax on food purchased from grocery stores.

So, you mean those who grow all their food don't have to pay it? Great.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

I suppose the question is, do you? If there is a budget surplus, that money came from somewhere. Virginia didn't just press print on the 'ole money printer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

I suppose the question is, do you? If there is a budget surplus, that money came from somewhere. Virginia didn't just press print on the 'ole money printer.

So if you win $100 on a lotto ticket one week, do you redo your household budget based on the assumption you will continue to win $100 every week? Because that’s basically how you’re saying the state government should approach balancing the budget. That’s not how it works.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

I suppose the question is, do you? If there is a budget surplus, that money came from somewhere. Virginia didn't just press print on the 'ole money printer.

Most of it is the result of federal transfer payments for covid relief. This will be the year of tax cuts and spending. The year after they will have to actually figure out how to pay for it

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

I suppose the question is, do you? If there is a budget surplus, that money came from somewhere. Virginia didn't just press print on the 'ole money printer.

So if you win $100 on a lotto ticket one week, do you redo your household budget based on the assumption you will continue to win $100 every week? Because that’s basically how you’re saying the state government should approach balancing the budget. That’s not how it works.

Yes, the Virginia budget is done every other year. It's not fixd in stone since the beginning of time. Virginia didn't "win" any money from a lottery. If Virginia has "left over" money in the general fund, it's because Virginia taxed too much or didn't spend enough. I know whch one you think it is.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

I suppose the question is, do you? If there is a budget surplus, that money came from somewhere. Virginia didn't just press print on the 'ole money printer.

Most of it is the result of federal transfer payments for covid relief. This will be the year of tax cuts and spending. The year after they will have to actually figure out how to pay for it

Source? Those funds were earmarked for certain expenditures. They couldn't be mixed into the general fund like a giant savings account.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:There's a Senate bill: https://www.13newsnow.com/article/money/virginia-food-tax-repeal-youngkin-general-assembly/291-7ebe22c9-3015-4e19-a024-7f389fd7a716

It is hilarious to me (and yet so typical) that the Republican who introduced the legislation is refusing to make a proposal to offset the lost revenue, notwithstanding the balanced budget requirement.

Virginia has a budget surplus.

Your point being? Do you understand how a balanced budget works?

I suppose the question is, do you? If there is a budget surplus, that money came from somewhere. Virginia didn't just press print on the 'ole money printer.

Most of it is the result of federal transfer payments for covid relief. This will be the year of tax cuts and spending. The year after they will have to actually figure out how to pay for it

Source? Those funds were earmarked for certain expenditures. They couldn't be mixed into the general fund like a giant savings account.

The Fed seems to think the surplus is the result of tax receipts resulting from people spending federal funds as well as direct payments from the feds. Virginia got $7.2 billion split between the state and local governments and that money has limited strings attached

https://www.richmondfed.org/research/regional_economy/regional_matters/2021/rm_09_17_21_state_surplus