CENTERS for
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| Economic DevelopmentThe key to a growing economy is increased economic development and a decrease in government intrusion into the market place. As the old saying goes, "A rising tide lifts all ships." That theory applies to economic development. If a vibrant economy is available to Virginia, then everyone benefits -- more people are employed and the tax base allows for adequate funding for government programs. Government policies and actions impact on future economic development and this Center looks at specific issues impacting on economic development based up the Mission Statement of the Thomas Jefferson Institute.
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May 2013
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Jefferson Institute Responds to Commonwealth Institute Criticism —
Michael Thompson, president of the Thomas Jefferson Institute, responded May 16 to the critical analysis by the left-of-center Commonwealth Institute of the economic plan released by Attorney General Ken Cuccinelli. "Our analysis shows taht, over five years, fully 58,000 jobs would be created under this plan ..." noted Thompson. Read the full response here!
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May 2013
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Jefferson Institute Likes Cuccinelli Tax and Spending Plan —
"The Cuccinelli Plan of tax cuts, limiting the growth of the General Fund, and eliminating preferential tax treatment for specific industries in return for a more even-handed approach to tax policy, should encourage investment and job growth at this time," says Mike Thompson, chairman and president of the Thomas Jefferson Institute. Read His Statement Here!
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April 2013
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Tax Restructuring Paper Urges Strenuous Reform Effort: Updated with New Sales Tax Figures —
Following General Assembly approval of Governor McDonnell’s transportation plan and its accompanying tax changes, the Thomas Jefferson Institute released an updated version of the it’s paper Tax Restructuring in Virginia: A Revenue Neutral Path for Improving Our Economy containing new numbers based on the tax changes taking place on July 1, 2013. The paper argues for a strenuous tax reform effort and offers options that reduce and flatten the state income tax brackets, eliminate three job-killing taxes on businesses and broaden the sales tax to segments of the economy that have been exempt in the past.
Institute Chairman and President Mike Thompson testified April 2 on the issue before a joint meeting of the General Assembly’s Manufacturing Development Commission and the Small Business Commission, outlining the positive economic impact of its tax restructuring ideas and some of the key issues surrounding this idea.
View the updated paper on tax restructuring here!
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address:
9035 Golden Sunset Lane
Springfield, VA
22153 phone:
(703) 440-9447 fax:
(703) 455-1531 email:
info@thomasjeffersoninst.org |
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