Virginia and Maryland consider new budgets

On Wednesday, Gov. Bob McDonnell (R-Va.) used his annual "State of the Commonwealth" address, in part, to push his transportation funding plan. Virginia implemented a gas tax 27 years ago. McDonnell wants to eliminate it and raise the state sales tax.

Eileen Norcross, economist and senior research fellow at the Mercatus Center, discussed that and other top tax issues on Capital Insider.