Economic Leaders and Experts Praise Tom Perriello’s Growth-Oriented Tax Plan to Invest in Middle and Working Class Virginians
I wanted to share with folks some very exciting news about Tom Perriello, who’s running for Governor here in Virginia. Last Friday, Tom released a bold plan to generate the revenues to fund growth-oriented investments in middle and working class Virginians, while giving the middle class a tax cut. This plan makes Tom the only candidate in the race to show how he’ll pay for a realizable, progressive agenda to support working families across Virginia.
Even the conservative editorial board editor of the Richmond Times-Dispatch tweeted, “Though I disagree with many of his ideas, @tomperriello is putting other candidates to shame with the depth and detail of his proposals.”
Tom’s approach is a sharp contrast with the Republican frontrunner, Ed Gillespie, who refuses to outline cuts he would make to pay for a $1.3 billion tax cut that largely benefits the wealthy. It is also a clear distinction from Ralph Northam, who is proposing marginal changes or vague ideas that do not adequately tackle the sizable challenges facing Virginia.
I’m especially proud to announce that economic leaders and tax experts from Virginia and beyond are praising Tom’s plan. Here are some of their reactions:
Alex Fife, Virginia entrepreneur and impact investor and adjunct professor at UVA’s Darden School of Business: “Tom’s plan is a smart approach that will lay the foundation for a more resilient Virginia economy. These common sense reforms will strengthen the middle class and empower businesses of all sizes to compete and grow, driving economic innovation from the bottom up. As an entrepreneur, I strongly believe Tom’s plan will make Virginia a better place to grow my business locally, bring my product to market, and develop a talented workforce.”
John Kluge, Virginia entrepreneur, @klugesan: “In case you want to know what tax reform that actually supports working families looks like.”
Seth Hanlon, former Special Assistant for Economic Policy to President Obama: “Tom Perriello has offered a bold, progressive tax plan that will make Virginia’s tax code fairer and enable the investments that will drive broad-based growth and lift middle-class incomes. The contrast with Ed Gillespie and Donald Trump’s tax plans could not be any more stark. The Gillespie-Trump plans provide their biggest tax cuts to those at the top, driving Virginia and America deeper into the red on the failed economic theory that prosperity will trickle down to the middle-class. By contrast, Tom’s plan cuts taxes for Virginia families working and raising children while closing corporate loopholes and making people at the very, very top pay their fair share. It is a blueprint for a stronger middle-class.”
Rahul Keshap of Charlottesville, Head of Investment Foundations Program at CFA Institute, @rkeshap: Perriello’s plan is “a thoughtful, compassionate new tax plan for Virginia.”
Lily Batchelder, former deputy director of the National Economic Council and deputy assistant to President Obama: “Tom’s tax plan is like Tom: thoughtful, full of common sense ideas, and steadfastly focused on making sure that all Virginians have a fair shot. It includes critical new proposals to help working families who are struggling to make ends meet, including a new refundable child care credit and making the earned income tax credit refundable. At the same time, it simplifies the tax code and asks the wealthiest 1% to pay their fair share, ensuring that a Virginian making $18 million is no longer in the same tax bracket as one earning $18,000. State tax reformers around the country should look to Tom’s plan as a model for how to make their tax code fairer, simpler, and more pro-growth.”
Justin Wilk, Prince William County school board member: “As a former middle school teacher, I’ve seen how Virginia’s broken tax system penalizes areas like Prince William County. Tom’s tax plan finally brings some sanity to how we pay for vital investments in early childhood education and K-12 education. Education funding is down more than $1,500 per student since the Great Recession, and I stand with Tom in his efforts to get us back to the levels of investment in our public schools that Virginia needs to thrive.”
Henry Waxman, former Congressman and Chair of the House Energy and Commerce Committee: “The tax proposal by Tom Perriello is an excellent example of how he sees Virginia helping its working families and growing its economy. I am impressed by its thoughtfulness and its obvious goal of having Virginia lead the country.”