Economic Development

The 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.

November 2018

Tax Conformity Must Be Coupled With Tax Reform
Tax Conformity Must Be Coupled With Tax Reform —  Over the next two years, Virginia taxpayers will pay more than $1.2 billion in added state tax taxes ... unless the General Assembly acts to reform our tax code when it conforms to federal changes.  The Thomas Jefferson Institute solution is simple:  Double the state standard deduction, helping nearly 2.8 million taxpayers; and reduce the corporate tax rate from six percent to five percent, making Virginia more competitive with our neighboring states and creating added jobs. (11/19/2018) 

Read The Institute's Tax Proposal Here!

Read Who is Endorsing the Institute Tax Proposal Here!

November 2018

Fourth Annual Conference on Virginia's Economic Future
Fourth Annual Conference on Virginia's Economic Future —  Top Northern Virginia business, economic, and political leaders gathered at George Mason University on October 29, 2018 to hear economists, trade association leaders, and financial analysts discuss the national and state economies, the impact of the federal Tax Cut and Jobs Act, the need for state tax reform, and the effect all this has had on personal investments.  Among the participants were Holly Wade, Director of Research & Policy Analysis for the National Federation of Independent Business; Steve Haner, Senior Fellow on State and Local Tax Policy for the Thomas Jefferson Institute; Fletcher Mangum, CEO of Mangum Economics; and Rachel Boyell, Director of Investment Strategy for Cassaday & Company.

See Holly Wade's Powerpoint Here!

See Steve Haner and Fletcher Mangum's Powerpoint Here!

See Rachel Boyell's Powerpoint Here!

October 2018

Jefferson Journal:  Tax Conformity Alone Is Not Enough
Jefferson Journal: Tax Conformity Alone Is Not Enough — By Stephen D. Haner  When the General Assembly meets in January, it should fully conform Virginia's tax system to the new federal Tax Cuts and Jobs Act, but it shouldnot stop there.  It should also take immediate steps to reduce the state tax increases that conforming the tax code will automatically create for many Virginia families and businesses.  (10/4/2018)  Read It Here!


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