Tom Perriello pledges to raise income tax on Va.’s wealthiest
RICHMOND, Va. (AP) -- A Democrat seeking to be Virginia's next governor is pledging to raise income tax rates on the wealthy while providing a childcare credit he said would help lower- and middle-class families.
Tom Perriello unveiled his tax plan Friday, saying the state's current system is outdated and favors the rich.
He said as governor he would pursue increased tax rates for those making more than $500,000 a year and $1 million a year. Virginia's current state income tax rate is 5.75 percent for any income more than $17,000 a year.
Such increases would have to be approved by the General Assembly, which has generally been averse to tax increases.
Perriello is competing against Lt. Gov. Ralph Northam in the June 13 Democratic primary.